Thai fashion marketplace Pomelo raises US$19M to expand globally

Yon Heong Tung
Thai fashion marketplace Pomelo raises US$19M to expand globally

The funding was led by JD.com, Provident Capital Partners and Lombard Investments

Thai fashion marketplace Pomelo has raised a US$19 million Series B round led by JD.com and Provident Capital Partners, together with Lombard Investments.

It will use the newly-acquired financing to grow its branding in Southeast Asia as well as increase its footprint across global markets.

“We’re extremely pleased with this round and to be in partnership with such prominent players from the investment community. We look forward to continuing on the mission of building the first global fast fashion brand out of Southeast Asia,” said David Jou, CEO of Pomelo, in an official press statement.

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This Series B round gives Pomelo a war chest of US$32 million. Last year, it closed a Series A round led by Jungle Ventures, with 500 Tuk Tuks, and investors Andre Hoffman and Jonathan Price and other existing investors participating.

Pomelo’s other investors include Skype Co-founder Toivo Annus, 500 Startups, Fenox Ventures, Queens Bridge Ventures and a few others including a major hedge fund based in New York.

“Emerging Asia has become a proving ground for digitally native companies to become leading consumer brands across different industry verticals,” said Amit Anand, founding partner at Jungle Ventures, in an official press statement.

“We are proud to have helped kick-start Pomelo Fashion’s ambitions and being able to support David and the team through an exciting period of growth and product expansion.

Pomelo’s competitors in Thailand include WearYouWant, which raised a Series B round from last year.

Image Credit: Pomelo

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