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
Rocket's mission is to become the world’s largest Internet platform outside of the United States and China. Rocket identifies and builds proven Internet business models and transfers them to new, underserved or untapped markets where it seeks to scale them into market leading online companies. Rocket is focused on proven online business models that satisfy basic consumer needs across three sectors: eCommerce, marketplaces and financial technology. Rocket was founded in 2007 and now has more than 25,000 employees across its network of companies, which operate in more than 100 countries on five continents.
Our e-commerce companies include retail companies in the areas of fashion, general merchandise, home and living, office supplies and food and groceries. Our marketplace companies seek to displace traditional supply chains by creating venues where buyers and sellers can transact directly, and include real estate and car online classifieds, travel and transport, and food delivery companies. Our third sector, financial technology, includes companies that focus on bringing together borrowers and lenders in regions and segments that are underserved by traditional banks, particularly in the consumer and small and medium-sized enterprise segments, and on facilitating payments.
As part of our global strategy, we have created regional Internet groups in Africa, Asia Pacific, Latin America and the Middle East in order to bundle local market and business model insights, facilitate regional commercial, strategic and investment partnerships, in particular with mobile telecommunication providers, enable local recruiting and sourcing and accelerate the regional rollout of our companies. We have developed proprietary technology where we believe it provides our companies with a competitive advantage. Our proprietary technology is highly flexible and scalable and provides our companies with significant cost and speed advantages, particularly during their initial rapid launch and rollout processes.
Our platform has enabled us to build a large, global network of companies and has historically put us in a position to launch more than 10 new companies every year through application of a standardized business model identification and development process. Every new company that we start accelerates the virtuous circle of synergy creation among our companies. The larger the size of our network of companies, the more significant our opportunity is to benefit from synergies and network effects with respect to our suppliers, solution providers, customers and employees.