Linio, a Mexico City-based e-commerce company focused on Latin America, closed a €58m funding round.
The investment was led by Northgate Capital and Access Industries, which joined Latin Idea, Tengelmann Group, JP Morgan Asset Management, Investment AB Kinnevik, Summit Partners and Rocket Internet.
The company intends to use the funds to grow in its current markets as well as expand its presence to other countries in Latin America.
Founded in April 2012 and led by Andreas Mjelde, CEO, Linio offers a combined online catalog of over 300,000 products and is currently achieving over 15 million monthly hits on its website, over 2 million fans on their Facebook page and more than 50,000 followers on Twitter.
The company also has presence in Colombia (Bogotá), Venezuela (Caracas) and Peru (Lima), with more than 1,500 employees across the region.
FinSMEs
14/07/2014