FASHIONVALET, one of Southeast Asia’s leading fashion e-commerce platforms, has announced the successful closing of a Series C investment from Khazanah Nasional Berhad.
Now in its eight year of operations, FashionValet plans to use proceeds from the fundraise to deepen its presence in the Malaysian market, expand to other markets, and build-out its infrastructure, via enhanced use of technology and more physical stores.
Founded in 2010 by Imperial College Aeronautical Engineering graduate, Fadzarudin Shah Anuar and London School of Economics Law graduate, Vivy Sofinas Yusof and supported by a solid team, FashionValet is today home to over 300 fashion brands available on its website, www.fashionvalet.com.
Led by Fadzarudin and Vivy, FashionValet has gone from strength-to-strength in the dynamic e-commerce landscape, with its revenue having more than tripled in the past two years.
FashionValet’s current footprint extends beyond Malaysia, serving customers in more than 15 countries including Singapore, Brunei, the UK, the US, the Middle East and Australia.
“I am so excited to do more for the Malaysian fashion industry; it’s something I am very passionate about. FashionValet is always on the lookout to help grow
more local brands to compete in the international arena, and I am confident our Malaysian brands have the potential to do just that,” says Vivy who’s FashionValet’s chief creative officer.
“The investment by Khazanah will help us to pursue this reality,” she adds.
Echoing this, Fadzarudin, who is co-founder and chief executive officer of FashionValet says they would like to thank Khazanah for the strong vote of confidence, not just confidence in FashionValet, but also in the rising potential of Malaysian entrepreneurs in general.
“Khazanah’s investment will help us execute our strategic plans to expand the business, taking FashionValet to greater heights,” he says.