Pomelo raised $19 million Series B led by JD.com

Pomelo raised US$19 million in Series B funding as the biggest value in Thailand. Online fashion website Pomelofashion.com on Wednesday announced it has raised new funds led by China's JD.com and Indonesia's Provident Capital Partners where US's Lombard Investments are also participating.

Tinuku Pomelo raised $19 million Series B led by JD.com

Pomelo announced the latest funding to be used to expand its global market share. The startup fashion marketplace headquartered in Bangkok founded in 2014 it started selling Korean fashion through the site and worked with designers to create home brand products.

"We are very excited in this round and partnering with leading players by the investment community, we look forward to continuing the mission of building a fast global fashion brand," Pomelo CEO David Jou said.

In September 2014 Pomelo raised funding of US$1.6 million and in October last year raised a total of US$11 million after following the Series A round led by Jungle Ventures, 500 Startups, and others.

Pomelo claims Series B funding is the greatest value ever owned by Thai startups. The previous record was US$17.5 million by Omise in Serie B in July 2016. Bangkok-based Zilingo raised US$17 million in series B in September this year.

JD.com's investment in Pomelo is very important where Chinese companies focus on Southeast Asia widely. In September JD.com formed a joint venture with Central Group worth US$500 in Thailand.

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