- Quinio is an e-commerce aggregator company that acquires, operates, and builds leading CPG e-commerce brands across LATAM
- The equity portion of the round was led by Northgate Capital, the latest investment from its second Growth Equity Fund in Mexico
- The resources raised will be used to ramp up its acquisition pace, grow the team regionally, and continue to develop the company’s technology
Mexico City and San Francisco, California, November 03, 2022 – Quinio, a leading LATAM e-commerce aggregator company founded in 2020, announced today it has raised more than USD$40M in capital and debt financing. Quinio focuses on acquiring and building exceptional e-commerce brands created by disruptive local entrepreneurs, that are well positioned and have significant growth potential in their respective categories across diverse online marketplaces, mainly on Amazon and Mercado Libre, and through its own direct-to-consumer platforms.
The funds raised by Quinio will be used to ramp up the pace of acquisitions, boost its team, and fund the continued development of the company’s technology. The main objective is to fuel expansion for each acquired brand through organic growth, geographic footprint expansion, product innovation, sales channel diversification, operational efficiencies, and tech capabilities.
Quinio has designed a unique business model leveraging data and technology to identify the best brands to be acquired, attain insights into consumer needs, and deliver best-in-class products to customers. The company already owns and operates several brands with presence in Mexico, Colombia, Chile, and the USA, countries with a huge and growing universe of online sellers, the natural allies for e-commerce aggregators such as Quinio. Although the e-commerce aggregator space in LATAM is still developing, the region offers enormous potential as the fastest growing e-commerce region in the world, having registered a 28% annual growth rate on average during the last 5 years.
The equity portion of the financing round was led by Northgate Capital through its second Growth Equity Fund in Mexico. Northgate Capital is investing alongside a mix of exceptional existing and new investors, including Cometa, DILA Capital, AlleyCorp, Western Technology Investment, Alchimia Investments, and a diverse group of strategic individual investors. The company has also secured the debt portion of the round but will not disclose details at this time.
“We are thrilled to partner with Quinio’s management team, seeking to support the company in its transformation to become the most successful e-commerce conglomerate in Latin America. We are convinced that through this investment, Quinio will be in an unmatched position to take advantage of the world’s fastest-growing e-commerce market. Moreover, we expect to leverage our M&A experience by helping to identify the best brands to acquire and to optimize the acquisition and integration processes,” said Gabriel Mizrahi, Partner of Northgate Capital Mexico.
“We are very excited to partner with Northgate, as well as with new and existing investors participating in this round. This investment will help us consolidate our position in Latin America, continue enhancing our world-class team, and enable us to fulfill our purpose of improving the lives of millions of families by delivering products consumers love. We are ready to capture the opportunities ahead to become the ideal ally for online sellers looking to capitalize on their brand’s success by either selling their business to Quinio or by partnering with Quinio to take their brand to the next level,” said Juan C. Gavito, CEO and co-founder of Quinio.
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Tania Rojas
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Miranda Partners
About Quinio
Quinio is a LATAM e-commerce aggregator company, founded by Mexican entrepreneurs in 2020. The company specializes in acquiring and operating leading e-commerce brands that are well-positioned in their respective categories in online marketplaces. Quinio acquires brands within selected industries (such as Home & Kitchen, Beauty & Personal Care, Baby, Health & Households, among others) within the LATAM region (mainly Mexico, Colombia, and Chile).
For more information, visit: https://quinio.io/
About Northgate Capital
Northgate Capital manages more than US$5B in aggregate commitments for investments in venture capital and private equity investments globally. In Mexico, as part of its growth equity strategy, Northgate has raised two private equity funds which are focused on growth investments in the mid-market segment.
For more information, visit: https://northgate.com/northgate-mexico/