Singapore’s iFashion raises funding to help small online fashion retailers grow bigger

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Ask Singaporeans to name things they love, and it’s highly probable that “fashion” and “online shopping” will be high on the list. As a result, a casual search offers up quite a few online retailers that are grabbing a chunk of the market.

It’s those retailers that Singapore’s iFashion Group wants to reach. The company announced today it has raised US$736,000 in seed funding from Singapore-based venture capital seed fund Rimu Group. iFashion aims to create a collaboration hub for fashion ecommerce startups.

iFashion wants to reach online fashion retailers who are trying to grow.

Modeling itself after digital media network Yello Mobile’s aggressive acquisition philosophy, iFashion wants to work with companies that are between three and five years old, have proven market traction, and are trying to grow. iFashion says it can provide a range of services to online entrepreneurs, including mentorship, marketing, logistics, warehousing, sales, fulfillment, and financial services.

“The online fashion industry has tremendous potential for growth,” says Jeneen Goh, managing director of iFashion Group, in a statement. “We recognize the common needs of many of these fashion brands early on and have been helping them to realize their full potential. As ecommerce volume and traffic increase, these brands will enjoy the various business services and market knowledge provided by iFashion to effectively manage their growth.”

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