Rocket Internet property portal Lamudi gets US$7mil for Asian ops

  • Investment to boost operations in 5 Asian countries
  • Funds from investors including Tengelmann Ventures
Rocket Internet property portal Lamudi gets US$7mil for Asian ops

ROCKET Internet said its real estate startup Lamudi has received almost US$7 million in new funding from a range of investors including Tengelmann Ventures, the investment company of retail giant Tengelmann Group.
 
Lamudi is an online property listings platform that currently operates across 21 countries, including five in Asia (Myanmar, Indonesia, Philippines, Pakistan and Bangladesh). It claims to now have over 200,000 property listings globally.
 
“Lamudi is growing quickly and making good progress in all of our markets,” said cofounder Paul Philipp Hermann.
 
“The announcement of this substantial funding for our Asian operations is very welcome and will be crucial in helping us to make better and faster progress towards our goal of becoming the market leader in online property in Asia,” he added.
 
Lamudi was founded in 2013 and is currently available in Algeria, Bangladesh, Colombia, Ethiopia, Ghana, Indonesia, Kenya, Mexico, Morocco, Myanmar, Nigeria, Pakistan, Peru, Philippines, Rwanda, Saudi Arabia, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe.
 
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