Home Tech Rocket Internet’s Lamudi Secures $7M for its Asian Expansion

Rocket Internet’s Lamudi Secures $7M for its Asian Expansion

by Sam Wakoba
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Rocket Internet‘s property listing site Lamudi has secured $7 million in a new funding round from Tengelmann Ventures, in a move to stir its operations in Asia.

The new round of funding will help Lamudi expand in its five Asian markets namely Myanmar, Indonesia, Philippines, Pakistan and Bangladesh.

With operations in over 21 markets in Africa, the Middle East and South America, and Asia,  Lamudi global says it has over 200,000 property listings.

Paul Philipp Hermann, co-Founder at Lamudi said: “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.”

Lamudi’s expansion is Asia will intensify competition in Asia’s property listing market with players such as iProperty, PropertyGuru and Property24.

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