La­mudi re­ceives new in­vest­ment boost to grow op­er­a­tions

The Pak Banker - - COMPANIES/BOSS -

LA­HORE: Emerg­ing mar­kets real es­tate net­work La­mudi has raised EUR 29 mil­lion (USD 31.4 mil­lion) in in­vest­ment to grow its op­er­a­tions across Asia and Latin Amer­ica. Three in­vestors have backed the busi­ness: Asia Pa­cific In­ter­net Group, which is a joint ven­ture of Rocket In­ter­net and Oore­doo; Holtzbrinck Ven­tures, a lead­ing Euro­pean ven­ture cap­i­tal in­vestor; and cur­rent in­vestor Ten­gel­mann Ven­tures, a divi­sion of in­ter­na­tional multi-sec­tor re­tailer Ten­gel­mann Group.

La­mudi a global real es­tate por­tal, was launched in Oc­to­ber 2013 by Ger­man In­ter­net plat­form Rocket In­ter­net. Since that time, the com­pany has seen sig­nif­i­cant year on year growth and achieved mar­ket lead­er­ship in sev­eral coun­tries. La­mudi op­er­ates ex­clu­sively in the emerg­ing mar­kets and is cur­rently ac­tive in nine lo­ca­tions across Asia and Latin Amer­ica (Philip­pines, In­done­sia, Bangladesh, Myan­mar, Sri Lanka, Mex­ico, Colom­bia and Peru. In Fe­bru­ary 2015, the ven­ture re­ceived 16 mil­lion EUR in in­vest­ment to boost its Latin Amer­i­can and Asian op­er­a­tions. A year later, an ad­di­tional 29 mil­lion EUR will be in­vested in the busi­ness. Hanno Stegmann, CEO APACIG, states: "We are very happy with the de­vel­op­ment of La­mudi within our port­fo­lio. The de­mand for great clas­si­fieds plat­forms across emerg­ing and fron­tier mar­kets in the APAC re­gion is high. La­mudi has proven a strong ca­pa­bil­ity to adapt to di­verse mar­kets and of­fer the best user ex­pe­ri­ence. We are con­fi­dent to see the busi­ness grow­ing fur­ther." La­mudi Pak­istan's Coun­try Di­rec­tor, Saad Ar­shed said: "Our goal is to build the big­gest real es­tate plat­form in Pak­istan.

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