Rocket Internet’s Global Fashion Group (GFG), an umbrella group that houses the German company’s fashion-focused e-commerce services for emerging markets, made a double
announcement today after revealing that it secured €150 million ($167 million) in fresh funding and acquired two Rocket Internet-backed companies in Brazil. The group, which
was formed when five Rocket-backed companies combined last September, raised $35 million as recently as April. That April raise was carried out at a valuation of €2.8 billion/$3
billion. Now, with two more portals under its belt, GFG has an implied post-money valuation of €3.1 billion, or $3.45 billion. The new capital is led by existing
investors Kinnevik and Rocket Internet and will go towards general costs and expanding logistics, the company said.
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