REFILE-Latam e-commerce firm Linio gets $79 mln in new investment
(Removes word "embargoed" from headline)
* New investors are Northgate Capital, Access Industries
* Linio active in Mexico, Colombia, Venezuela and Peru
* Investment to pay for expansion, marketing, technology
* Rocket Internet expected to make IPO later this year
BERLIN, July 8 (Reuters) - Linio, an e-commerce company bidding to be the Amazon of Latin America set up by German venture capital firm Rocket Internet, has attracted 58 million euros ($79 million) in new funding, helping it expand to new markets like Chile.
Linio said in a statement on Tuesday the new funding round was led by private equity fund manager Northgate Capital and Access Industries, owned by Len Blavatnik, a billionaire and Ukrainian-born American industrialist, who has invested in several Rocket Internet firms.
Founded in 2012, Linio now sells products from shoes to smartphones in Mexico, Colombia, Venezuela and Peru. It has not published sales figures but says it gets over 15 million website hits a month and has over 2 million Facebook fans.
Linio Chief Executive Andreas Mjelde said the new investment would help the firm expand into more countries, starting with Chile, and also pay for more marketing and improving its technical platform in its existing markets. Continuación...