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Lamudi raises $18 million to get every property developer online

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Lamudi01Rocket 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.

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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.

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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