Imagine a country with 100 million mobile phones, but just 15 percent of residents have a credit card. A country where more than half of the population is under age 27, but less than half has Internet access. That, in a nutshell, underscores the opportunities and challenges for innovators and investors evaluating Mexico’s emerging innovation economy. Read More
Rocket Internet, the Berlin-based e-commerce incubator, is today announcing the latest chapter in its strategy to build out businesses in emerging countries. Linio, an Amazon-style e-commerce marketplace active in Mexico, Colombia, Venezuela and Peru, has raised an additional $79 million (€58 million), led by new investor Northgate Capital and Access Industries. The company says the… Read More
Rocket Internet’s Linio Picks Up $50M To Further Build Out Its Latin American Amazon-style Marketplace
Linio, the Rocket Internet-incubated e-commerce portal that has aspirations to be the Amazon of Latin America, is today announcing a round of funding that brings on board the startup’s first large, strategic local investor. Latin Idea, a Mexico based private-equity fund, is leading a $50 million round in the company, with participation from existing investors and Rocket regulars JP… Read More
Rocket Internet’s Linio, The Amazon Of Latin America, Raises $26.5M From Summit Partners. Rinse And Repeat.
Another Rocket Internet-incubated e-commerce company gets a significant cash injection today: Linio, the so-called ‘Amazon of Latin America’, has raised a €20 million (~$26.5m) round from previous backer Summit Partners. It’s also the second investment for Linio this month after German retail company Tengelmann Group announced it had invested a “8-digit Euro… Read More