Linio Raises EUR58 Million from Northgate Capital and Access Industries (Latin America)
Source: Rocket Internet
Linio, a Latin America-focused e-commerce company set up by venture capital firm Rocket Internet, has raised EUR58 million (approximately US$79 million) in new funding from United States-based alternative asset manager Northgate Capital and Access Industries, an industrial group founded by American industrialist Len Blavatnik. Linio sells products ranging from shoes to smartphones in Mexico, Colombia, Venezuela and Peru. The investment is intended to help the company expand to more countries, starting with Chile, and improve its technical platform in existing markets.