Rocket Internet-backed online property site Lamudi has today raised EUR 16 million (US$18 million) from Asia Pacific Internet Group, Holtzbrinck Ventures, and Tengelmann Ventures in an Asian and LatAm expansion drive.
The firm’s main aim with the cash is to build the world’s largest real estate platform and the funding gets them closer to that. The firm will use the cash to up its desktop ad mobile product to help developers and real estate agents to list their properties online and well help buyers and renters to easily find property online.
It’s especially looking at dominating in Asia and Latin America where Internet uptake is growing. It’s African operations have also been expanding with launches in over 10 countries on the continent. The site is now live in 32 countries in Africa, Asia, Latin Amedica and the Middle East and has over 800, 000 properties listed on the site.
Lamudi last year launched its Android and iOS platforms and as well raised $7 million for its Asian expansion drive. $18 million is not child’s play and the firm is sure to gain some markets and acquire as many customers as it can.