Southeast Asia’s online fashion retailer Zalora has raised a further $112 million in capital.

The funds have been invested by Leonard Blavatnik’s Access Industries and US asset management firm Scopia Capital Management.

Zalora said that the new funding is the largest single investment ever made into an online fashion retailer in Southeast Asia, breaking its own record of $100 million from investors Summit Partners, Verlinvest, Tengelmann Group and Investment AB Kinnevik in May.

The retailer said in a statement that the new capital will support its efforts to scale up operations and gain an even stronger foothold across Southeast Asia and Australia.

Backed by Berlin-based Rocket Internet, Zalora sells around 500 brands in Indonesia, Malaysia, Thailand, Singapore, Vietnam, Brunei, Hong Kong and the Philippines.

While Southeast Asia’s e-commerce market value stands at less than $7 billion a year, it is growing at more than 30 per cent annually due to a growing middle class and faster Internet penetration, says Hemant Kalbag of AT Kearney.