Summit will take a stake in the company through its German holding company.
Launched on the 23rd of January 2012 by Manuel Koser and Peter Allerstorfer, Zando.co.za now offers and 10,000 products including clothing, beauty and accessories from over 400 brands. Its online store provides multiple payment methods to choose from (Cash on delivery, Electronic funds transfer, Credit Card, Debit Card and eBucks).
The company today employs more than 200 people in Cape Town, South Africa.
Originally supported by Rocket Internet, the company recently received an investment from J.P. Morgan Asset Management (read here).