Linio, the ‘Amazon of Latin America,’ Raises $26.5 Million From Summit Partners

 
 
 

In its second funding announcement of the month, e-commerce startup Linio has raised $26.5 million from Summit Partners, who were previous investors according to The Next Web. Earlier in February, Linio landed between $15 and $20 million from German retail company Tengelmann.

Launched in Spring 2012, Linio has already established operations in Mexico, Colombia, Venezuela and Peru, selling products ranging from personal care to home appliances. The company is part of the Rocket Internet startup incubator – a German-based organization known for replicating proven startup business models and applying them to unique geographies.

Summit frequently contributes venture capital to Rocket-backed companies. In December, TechCrunch reported that Summit invested $26 million into Lazada, a Rocket-funded Southeast-Asia e-commerce site with Linio’s same business model. Rocket has also launched e-commerce “Amazon clone” websites targeted towards Germany, India, Russia, Japan, Australia and Pakistan.