The World Bank's private sector division is investing up to €25 million in two online retailers operated by Berlin's Rocket Internet.
The bank's International Financial Corporation (IFC) will invest up to €15 million in Latin Amrica's Dafiti and up to €10 million in Russia's Lamoda.
Atul Mehta, an IFC director, said in a statement: 'Internet companies are speeding up modernisation of the retail supply chain in developing countries, which promotes consumer spending - a key component of economic growth.'
'Their investments in logistics, information technology and marketing are rapidly generating employment, especially for women and young people,' he said.
Rocket Internet has raised hundreds of millions in investment over the past 12 months, much of it in developing markets such as South America, Southeast Asia and Africa. It is aiming to capitalise on the rapid spread of smartphones and growing consumer spending power in the regions.
Dafiti launched in 2011 and investors include Sweden's Kinnevik, the Ontario Teachers Pension Plan, Quadrant Capital Advisers and JP Morgan. Lamoda launched the same year and is backed by London-based billionaire Leonard Blavatnik, Kinnevik, Summit Partners, JP Morgan and German retail giant Tengelmann.
Lamoda, which also launched in Kazakhstan in 2012, plans to use the IFC investment to expand its courier service of 900 clothing brands to 25 cities.
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