iFashion Group raises $763k in seed funding

Singapore startup iFashion Group has raised US$736,000 in seed funding from Singapore-based venture capital seed fund Rimu Group.

Aiming to create a collaboration hub for fashion eCommerce startups, iFashion has modelled itself after digital media network Yello Mobile’s aggressive acquisition philosophy, reports TechInAsia.

It wants to work with companies between three and five years old with proven market traction that are trying to grow. It is offering such services as mentorship, marketing, logistics, warehousing, sales, fulfillment and financial services.

“The online fashion industry has tremendous potential for growth,” says MD Jeneen Goh. “We recognise the common needs of many of these fashion brands early on, and have been helping them to realise their full potential.”

Launched in November, iFashion is backed by Singapore startup investment company Fatfish Group, which listed on the Australian Securities Exchange in 2014.

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