Linio to augment Latin American business with a new funding round

Friday 11 July 2014 08:12 CET | News

Linio, an ecommerce company, has gained a new EUR 58 million funding round led by Northgate Capital and Access Industries investment companies, and it plans further reach in the Latin American markets.

The expansion began in June 2014 with the launch of Chile, an ecommerce retailer 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 is the result of Linio’s constant growth since its arrival in Mexico, Colombia, Venezuela and Peru in 2012.

Linio offers more than 100,000 products of international brands and also integrates services such as multiple payment options, free returns and customer-oriented services.

Founded in 2000, Northgate Capital is a global manager of private equity and venture capital funds, with presence in 7 countries. With over USD 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.

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 US, Europe and South America with corporate offices in US, UK and Russia.

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Keywords: Linio. expansion, Latin America, LATAM, funding round, ecommerce, online sales, Customers, online purchases
Categories: Payments & Commerce
Countries: World
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