Linio, a Germany–based online retailer active in Mexico, Colombia, Peru and Venezuela, has raised €20m ($26.5m) from private equity firm Summit Partners.
The investment follows Germany-based retailer Tengelmann’s reported $15m to $20m in Linio last month, according to news provider the Next Web.
Tengelmann invested nearly $20m in Linio’s Asia-focused peer, Lazada, in January, shortly after Summit’s €20m investment.
Both Linio and Lazada were incubated by Germany-based Rocket Internet.
Summit Partners has backed other Rocket ventures, including Brazil’s Dafiti, with news…
