Fashion start-up Pomelo raises $19mn in biggest ever series-B round for Thailand

Thai fashion start-up Pomelo has raised $19mn in its latest round of funding.

The series B round of funding was led by JD, a Chinese e-commerce firm, and Provident Capital Partners, an investment firm based in Indonesia. Lombard Investments, a US private equity firm are also participating.

Pomelo was founded in Bangkok in 2014 and started selling Korean fashion via its online platform. It also works with designers to create its own house branded products.

See also: 

Thailand's economic vision with 1.5trn Baht and counting

Unilever invests in Carver Korea beauty 

Business Review Asia - November edition now live! 

The company was founded by David Jou its current CEO, Casey Laing and Win Thanapisitikul, current COO.

Jou previously co-founded Lazada Thailand where he worked as Managing Director. Liang was also   Managing Director at Lazada and has worked for Lehman Brothers / Barclays Capital. Thanapisitikul co-founded the Lazada Group having previously been an associate at Goldman Sachs.

In September 2014 Pomelo raised $1.6mn in a pre-series A funding round, and in October last year it had a total funding of $11mn after a series A follow-on led by Jungle Ventures and 500 Startups.

Pomelo has claimed this is the biggest funding round for a Thai start-up ever, and indeed this has been backed up by ‘Tech in Asia’ which states the previous record was $17.5mn raised by payments company Omise in July 2016.

Share

Featured Articles

Top 10 female executives leading Japan's charge for change

As Japan pledges a 30% target for women executives at big firms by 2030, we spotlight 10 female corporate leaders blazing a trail in the country

Top 10 most valuable unicorns in China – phones to drones

Home to the world’s most valuable unicorn, not to mention the fastest growing, China may be trailing the US on numbers, but it is catching up – and fast

Top 10 fastest-growing energy companies in the APAC region

Business Chief takes a look at the top 10 fastest-growing energy companies in the APAC region, according to rankings from S&P Global Commodity Insights

Top 10 Chief Financial Officers in India

Corporate Finance

Top 10 largest companies Malaysia and the CEOs who helm them

Leadership & Strategy

5 high-profile CEO moves across Asia-Pacific this month

Leadership & Strategy