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Mexican E-commerce Aggregator Quinio Raises USD $40M

Quinio is an e-commerce aggregator that acquires, operates and builds consumer packaged e-commerce brands across Latin America. Their strategy is based on buying mid-sized e-commerce brands with an annual turnover of at least USD $250k that sell quality products and have a good reputation among buyers.

Quinio is a profitable company with over 100 employees and growing rapidly, he said. Meanwhile, Gavito expects to end 2022 with over $50 million in annual recurring revenue, and its brands are reporting solid growth while gaining a regional presence.

The startup founded in 2020 by Iker Garay, Juan Gavito and Santiago Gavito recently raised USD $40M in total equity and debt financing. The split related to the new USD $40M  was not disclosed. The equity portion was led by Northgate Capital, which was joined by existing and new investors, including Cometa, Dila Capital, AlleyCorp, Western Technology Investment, Alchimia Investments and a group of strategic individual investors. Quinio’s debt financing details were also not disclosed at this time.

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