Germany-based retail group Tengelmann’s corporate venturing unit has made its third online fashion investment incubated at Rocket Internet in as many months by backing Singapore-based Zalora.

Zalora said it had raised €20m ($25m), while Tengelmann has previously invested in Lazada and Linio.

Founded last year, Zalora in September raised “significant double digit millions” of dollars from investment bank JP Morgan, according to a source to news provider TechCrunch, which added that other investors in Zalora included Summit Partners and Invus.


Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.

Not sure if you have a subscription?