Linio receives new round of investment and expands its presence in Latin America
08 JULY 2014, MEXICO CITY, JULY 8TH, 2014
SummaryLinio, the fastest growing e-commerce company in Latin America, has just closed another round of investment for 58 million Euros led by Northgate Capital and Access Industries.
Mexico City, July 8th, 2014 - Linio, the fastest growing e-commerce company in Latin America, has just closed another round of investment for 58 million Euros led by Northgate Capital and Access Industries.
With this new investment, Linio will continue to grow in its current markets as well as expand its presence to other countries in Latin America. This expansion began in June with the launch of Chile, a leader of e-commerce in the region. Access Industries and Northgate Capital join Latin Idea, Tengelmann Group, JP Morgan Asset Management, Investment AB Kinnevik, Summit Partners and Rocket Internet as investors in Linio. The interest of this group of investors has been a reflection of Linio’s continued growth since its arrival in Mexico, Colombia, Venezuela and Peru in 2012.
"This investment is another testament to our success. This will help us continue our geographical expansion to more countries in Latin America, starting with Chile. We will also continue to improve our technological platform and invest in marketing for our existing markets, Mexico, Colombia, Peru and Venezuela. With this new investment Linio will continue to position itself as the best choice for Latin American consumers, offering more than 100,000 products of high quality international brands at competitive prices in each of our countries" said Andreas Mjelde, CEO of Linio.
Linio continues to pioneer e-commerce in some of the fastest growing countries in the world, offering an online shopping experience that is fast, secure and convenient with a wide range of products. Linio continues to strive to provide their customers with the best offers including multiple payment options, free returns and the best customer service.
About Northgate Capital
Founded in 2000, Northgate Capital is a global leading manager of private equity and venture capital funds, with presence in seven countries. With over $4.5 billion in assets under management, Northgate has built a platform of more than 35 professionals across Europe, North America, Latin America and Asia. For more information, please visit www.northgate.com
About Access Industries
Access Industries is a privately held industrial group with long-term holdings worldwide. Founded in 1986 by Len Blavatnik, Access is an international industrial concern with strategic investments in the United States, Europe and South America with corporate offices in New York, London and Moscow. For more information, please visit www.accessindustries.com
Linio is the number 1 online store in Mexico. Founded in April 2012, 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 corporate headquarters are located in Mexico City along with presence in Colombia (Bogotá), Venezuela (Caracas) and Peru (Lima), with more than 1,500 employees across the region.
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About Rocket Internet
THE LEADING GLOBAL INTERNET PLATFORM OUTSIDE THE US & CHINA
Who we are
Our team has been building online companies since 1999 and has created over 100 market leading companies in 100+ countries, dozens of which have been exited successfully. Since 2007 our team operates under the name of Rocket Internet.
We are headquartered right in the vibrant centre of Berlin, Europe's Silicon Valley, and operate a network of international Rocket offices, covering all relevant developed and emerging markets. Our primary focus is on building proven, transaction-based business models in the online and mobile space. We are however not limited by such parameters and seize other attractive opportunities whenever they arise.
Investors in companies started by Rocket Internet include Investment AB Kinnevik, Holtzbrinck Ventures and many others.
How we work
Rocket is much more than a venture capital firm or an incubator. We bring together all key elements required to create great companies: team, concept, technology, and capital. We are 100 percent operationally involved in building our companies and cover all critical functions with our expert teams. They work together seamlessly in order to ensure that best practices are implemented in all key areas.
These teams include: Engineering and Product Development, Online Marketing, CRM, Business Intelligence, Operations, HR, and Finance. In addition, we have a global mobile task force of top entrepreneurial talents that brings expertise and speed to all our markets.
What we believe in and how we see ourselves
We are passionate entrepreneurs and focus on performance. We remain humble, and we understand that success is a result of hard work. We want to learn every day and share our knowledge with each other. We focus on the details and always try to solve problems ourselves.
We want to be selfless and pragmatic and have no time for politics. We value intelligence more than experience. We believe that anything is possible. We move as fast as we can and take risks. We like to get and give autonomy and responsibility. We are flexible and tolerant towards ambiguity and uncertainty.