Here are the top 10 most well-funded internet companies in Singapore

Ask any founder in Asia which country they plan to visit to raise funding, and chances are that diminutive Singapore will come up tops. And it won’t be too surprising – when it comes to startups, its government is probably one of the most supportive in the world. Plus, there are many VC firms and private investors – including Facebook co-founder Eduardo Saverin – who have chosen to call the island-state their home.

With so much money going into the local tech scene, one wonders which Singapore-based tech firms are the grand winners in the race to get funded. To quench your curiosity, we’ve done the heavy lifting and identified the top 10 most well-funded internet companies in Singapore.

Note: all figures shown below are of public funding rounds, and do not include undisclosed amounts.

1. Lazada, US$686 million (Techlist profile)

The fashion ecommerce retailer is one of Rocket Internet’s greatest successes so far, and is the only unicorn on this list with a valuation of US$1.25 billion. Thanks to its recent shift to a marketplace model for third-party merchants, Lazada’s sales – or gross merchandise volume (GMV) – doubled in the second half of 2014 as compared to the former half, bringing its total GMV for that year to roughly US$274.2 million.

2. Zalora, US$238 million (Techlist profile)

The other Rocket Internet-backed startup on the list, Zalora’s last-seen numbers aren’t exactly rosy. According to leaked documents, it had a net negative income of US$91 million in 2012, expecting to reach profitability by 2015. Whether or not it will actually do so this year remains to be seen, but regardless, the company has certainly won the confidence of several investors who have seen fit to invest substantial amounts.

While there was speculation that Zalora might go public in 2014, its recent plans to merge with four other fashion brands under Rocket Internet’s umbrella to form the Global Fashion Group say otherwise. Rocket Internet, however, did launch an US$8.2 billion initial public offering, which means Zalora might be seeing more capital flowing into its coffers soon.

3. iCarsClub, US$70.5 million (Techlist profile)