Rocket Internet raises $500 million for further global expansion

Rocket Internet raises $500 million for further global expansion

Berlin-based Rocket Internet has announced it has raised a total of US$500 million from partners Investment AB Kinnevik and Access Industries since May 2012, the largest ever investment in an internet incubator and accelerator company.

The company will be channeling the funds towards the expansion of Rocket internet’s successful startups spread across Africa, Europe and other parts of the world.

Currently, Rocket Internet holds a significant interest in 75 ventures, with 20,000 employees in over 50 countries worldwide.

The strategy employed by the company will see it develop and support leading, highly innovative e-commerce companies in the fashion, general merchandise and furniture sectors. E-commerce companies Zando and Jumia are among Rocket’s interests in Africa.

Oliver Samwer, Rocket Internet’s co-founder said: “This is a highly significant investment from our partners Kinnevik and Access Industries. The additional capital supports our goal to be the world´s largest and most successful creator of high impact companies in the internet space and reaffirms the confidence our investors have in our business.

“We will use the new capital to further strengthen our global presence while continuing to build successful companies together with great entrepreneurs.”

Rocket Internet was founded in 2007 by Alexander, Marc and Oliver Samwer, and is backed by leading global institutional investors and entrepreneurial families.

It was an early investor in Facebook, LinkedIn and Eventbrite.

Posted in: Startups

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