Funding boost for Zando
Zando, an e-commerce retailer, selling footwear, clothing, and fashion accessories – has landed a second major investment in a matter of weeks, following a €20 million injection by growth equity investor, Summit Partners.
It follows a “double digit million US dollars” investment from J.P. Morgan Asset Management in September.
Summit Partners is set to take a stake in Zando.co.za through its German holding company.
Zando was launched in January 2012, and has quickly grown to become one of the largest online retailers in South Africa. The company has grown to over 200 employees within less than nine months.
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