[Techtaffy Newsdesk]

South Africa-based fashion e-commerce retailer Zando.co.za has received an investment of €20 million by Summit Partners. Summit Partners will also take a stake in Zando.co.za through its German holding company.

Internet penetration is forecasted to hit 20% in 2013 in South Africa as the number of experienced internet users increases.

Zando’s current offering includes over 400 brands and 10 000 products online.

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