On Tuesday, a Singapore-based company said it had earned $ 226 million in investments, such as Sequoia Capital and Temasek Holdings Pte.
Zilingo Pte's path to become a fashion platform valued at around $ 1,000 million begins in December 2014 when Ankiti Bose, the then analyst at Sequoia India, talks with a neighbor at India's indigenous party party house, Bengaluru.
Bose, then the 23-year-old, and Dhruv Kapoor, a 24-year-old software engineer who worked in Kiwi Inc., are quickly realizing they have additional skills and similar ambitions to build their own. Four months later, they left their jobs, and each of them has contributed $ 30,000 in savings to locate the online Zilingo platform that allows Southeast Asian traders to scale up.
On Tuesday, a Singapore-based company said it had earned $ 226 million in investments, such as Sequoia Capital and Temasek Holdings Pte. name because the information is private. That puts 27-year-old Bose among the youngest top executives who start such a scale in Asia.
Legitimate women are still rare in the world of global start-ups. Of the 239 startups in the world, funded with venture capital worth at least $ 1 billion, only 23 have a founder, according to Pitchbook data from May last year.
"We were a group of twenty-one people with nothing but a dream and we decided to go after him," Bose said.
Bose is already part of a group of Southeast Asian founders who are benefiting from the rapid adoption of smartphones and increased revenue in the region. Online purchases in the region reached $ 23,000 million in 2018, according to a report by Google and Temasek. It is expected to exceed $ 100 billion by 2025.
Zilingo reported revenue of $ 1.8 million (US $ 1.3 million) in the year ending March 31, 2017, over $ 434,000 in Singapore since its creation until March 2016, according to the company's latest presentation in front of Singapore regulators. Revenue increased 12 times during the year ending March 2018 and four times between April and January, according to the company. Kapoor is the director of technology.
The company began to help small merchants sell to consumers and has since expanded into new areas. While founders deal with thousands of small traders, they realize that many people have no access to technology, capital and economies of scale.
That is why they have expanded, developed software and other tools to allow suppliers to gain access to Bangladesh factories to Vietnam, and to help with cross-border transport and inventory management. From 2018, Zilingo also works with financial engineering companies to provide working capital to small sellers to buy raw materials and produce goods.