Rocket Internet’s ‘Amazon’ Linio Raises $79M for Latin American Expansion

Rocket Internet’s Linio, a Latin American e-commerce firm has today raised around of investment for 58 million Euros ($79) led by Northgate Capital and Access Industries to fuel its growth in Mexico, Colombia, Venezuela and Peru and as well expand its presence to other countries in Latin America.

“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.

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.

Founded in April 2012, Linio has an 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.