Rocket Internet backed, South-East Asian online beauty and fashion e-tailer, Zalora has raised USD 100 million in funding from regular Rocket Internet’s co-investors Summit Partners, Kinnevik, along with Verlinvest and Tengelmann Group, reports Techcrunch.
Zalora is said to be one of the largest ecommerce startup in the south-east Asia region with its operations in Singapore, Indonesia, Malaysia, Brunei, the Philippines, Thailand, Vietnam, Taiwan and Hong Kong.
Looking at the expansion of Rocket Internet to capture the hyper geographical online retailing market of Asia including India, it is able to raise funds with its early mover advantage to these regions. Though Rocket got a bit late in India. These regions collectively possess good untapped thirst for online shopping.
Absence of other global players in the region also adds up to the advantage for company to gain more business.
Rocket Internet is quite famous for its cross learnings advantages and replicating its business models in various geographical locations where it does not exist. In India Rocket get its learning from Jabong which is among top e-commerce players for the country.
Managing 55 ventures across the world, Rocket has mainly capitalized its execution capabilities and quickly scaling their Internet business backed with additionally raised venture capital. Imagine the amount of consumer data Rocket is sitting on Asian market.
This will be the third round of funds raised by the startup. Previously it had raised $26 million from Tengelmann & JP Morgan. The funds raised has been used by the startup to build its footprint into more countries and invest in logistics & R&D, out of its HQ in Singapore. Last month, the company had also launched an iOS app for its users to bet on smartphone penetration in these regions.
Launched in March 2012, Zalora had recently completed its one millionth order and claims to have double-digit million USD in revenues. It offers 500 brands and have listed about 20,000 products on per country site.
Rocket is yet to receive any successful exit in these regions.