November 11

Mexican E-Commerce Aggregator Quinio Raises $40 Million in Equity and Debt

By Carolina Gonzalez

The Mexican e-commerce aggregator Quinio raised $40M in equity and debt. The equity was provided by Northgate Capital, Cometa, Dila Capital, AlleyCorp, Western Technology Investment, Alchimia Investments, and angel investors.

Quinio’s business model is similar to Merama’s, a Mexican unicorn startup. Quinio acquires, operates, and builds e-commerce brands created by local entrepreneurs that have growth potential.

The e-commerce industry is shifting after two years of unprecedented online shopping and as shopping habits move closer to what they were pre-pandemic:

Photo courtesy of Hello Lightbulb.

Source: LatamList (link opens in a new window)

Finance, Technology
e-commerce, financial inclusion