[Techtaffy Newsdesk]
Cape Town, South Africa-based fashion e-commerce retailer Zando has received an investment by J.P. Morgan Asset Management; J.P. Morgan will also take a stake in Zando through its German holding company.
J.P. Morgan Asset Management portfolio manager Robert Cousin, who worked on the deal from New York, confirmed the transaction.
Launched on the 23rd of January 2012, with a staff of 4 people, Zando scaled to 200 people, seven months later. It is led by its two managing directors and co-founders Manuel Koser and Peter Allerstorfer. The initial ignition of the company was supported by Rocket Internet.