Zilingo sacks co-founder and CEO Ankiti Bose for financial irregularities
May 20, 2022
New Delhi [India], May 20 : Singapore-based business to business (B2B) fashion technology startup Zilingo said on Friday it has fired its co-founder and chief executive officer (CEO) Ankiti Bose for alleged financial irregularities.
Indian-origin Ankiti Bose and Dhruv Kapoor co-founded Zilingo in 2015. Dhruv Kapoor is designated as chief technology officer of Zilingo Pte.
"Following an investigation led by an independent forensics firm that was commissioned to look into complaints of serious financial irregularities, the company has decided to terminate Ankiti Bose's employment with cause, and reserves the right to pursue appropriate legal action," Zilingo said in a statement.
Bose, who worked at Sequoia Capital India before co-founding Zilingo in 2015, was suspended from Zilingo on March 31 on complaints of alleged discrepancies in the company accounts.
After her suspension from the company, Bose brought to the Board's attention certain harassment charges.
"On April 11th, after her suspension on March 31, Ankiti Bose brought to the board's attention, for the first time, certain harassment-related issues pertaining to past time periods, which did not include any harassment complaints against investors or their nominees," Zilingo said in the statement.
Zilingo is a B2B technology platform that powers the global apparel supply chain with innovative solutions for production, sourcing and trade. It was founded in 2015 with a vision to put a connected and transparent supply chain within everyone's reach.
Over the years, it has evolved into an end-to-end enabler that gives raw material suppliers, fabric mills, manufacturers, wholesalers, distributors, brands and retailers access to commerce, software and services that optimize processes at scale, create cost efficiencies and support sustainable growth. The company's sales volume exceeds $1 billion annually, as per information available on the Zilingo website.
