- Singapore-based online fashion platform iFashion says it’s planning to go public, raising US$10 million in an initial public offering by the end of the year.
- iFashion has been gearing up for an IPO for a while, with Australia’s ASX a likely candidate. Now, however, it says that markets in Europe, like London or Germany, are potential destinations.
- The company has modeled itself after South Korea’s Yello Mobile, in the sense that it’s been growing through a series of acquisitions. It bought fashion ecommerce startups Dressabelle, Megafash, and Nose in previous months, as well as retail booking space company Invade. It plans a few more deals before going public.
- It raised seed funding worth US$736,000 from venture capital fund Rimu Group and is backed by Singaporean #startup investment company Fatfish Group. Its total funding is undisclosed.