Friday , January 22 2021

A 27-year-old CEO leads this start-up of nearly US $ 1,000 million

On Tuesday, the Singapore-based company reported capturing $ 226 million. USD in investments such as Sequoia Capital and Temasek Holdings Pte.

The road to Zilingo Pte to become a fashion platform with a valuation of approx. US $ 1,000 million Started in December 2014, when Ankiti Bose, then analyst of Sequoia India, chatted with a neighbor at a party in a capital city technology technology in India, Bengaluru.

Bose, then 23, and Dhruv Kapoor, a software engineer of 24 who worked in the study of Kiwi Inc. games quickly realized that they had complementary skills and similar ambitions to build their own startup. Four months later, they had left their jobs and each had contributed US $ 30,000 to find Zilingo, an online platform that allows small traders in Southeast Asia to increase their scale.

On Tuesday, the Singapore-based company reported capturing $ 226 million. USD in investments such as Sequoia Capital and Temasek Holdings Pte. The latest funding has been assessed at Zilingo at DKK 970 million. USD, according to people with knowledge of the subject who asked not to be published. name because the information is private. This places 27-year-old Bose among the youngest senior executives starting up this size in Asia.

Founding women are still rare in the world of global startup. Of the 239 worldwide startups funded with venture capital worth at least $ 1 billion, only 23 have a female founder, according to Pitchbook data last May.

"We were a group of twenty somethings with nothing but a dream, and we decided to go after him," Bose said.

Shopping online

Bose is now part of a group of founders from Southeast Asia who are exploiting the rapid adoption of smartphones and increased revenue in the region. Online purchases in the region reached USD 23,000 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 Singapore dollars (USD 1.3 million) a year ended March 31, 2017, over Singapore Singapore $ 434,000 since its creation until March 2016, according to the latest presentation of the company. Revenue increased 12 times a year ended March 2018 and four times in the period from April to January, according to the company. Kapoor is the director of technology.

The company started helping small retailers sell to consumers and has since expanded into new areas. While the founders were dealing with thousands of small vendors, they realized that many lacked access to technology, capital, and economies of scale.

Therefore, they expand the developed software and other tools to provide vendors access to factories from Bangladesh to Vietnam and also help with cross-border transport and inventory management. Since 2018, Zilingo also works with financial technology companies to provide working capital to small sellers so that they can buy raw materials and produce goods.

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