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 sum", reportedly somewhere in the ?15-20m range. Its other previous backers are AB Kinnevik, and J.P Morgan Asset Management, along with the Samwers brothers' own startup factor, Rocket Internet. The new funds are said to be used for further growth in Latin America where the company already operates in Colombia, M?xico, Peru and Venezuela.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/_5vGJuPfZDw/

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