Global property portal Lamudi receives new investment boost to grow operations
Emerging markets real estate network Lamudi has raised EUR 29 million (USD 31.4 million) in investment to grow its operations across Latin America and Asia
04 FEBRUARY 2016, BERLIN
SummaryEmerging markets real estate network Lamudi has raised EUR 29 million (USD 31.4 million) in investment to grow its operations across Latin America and Asia.
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 countries across Asia and Latin America (Philippines, Indonesia, Bangladesh, Myanmar, Pakistan, 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 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
Lamudi’s Co-Founder and Managing Director, Paul Philipp Hermann, said: “Our goal is to build the biggest real estate platform from the Philippines to Mexico. The additional funds will allow us to achieve market leadership and dominance in more markets at a faster rate. Last year was an intense and successful year, full of very important events for the company.
“The residential property market in emerging markets in Latin America and Asia, where Lamudi is operating, is in the growth phase of the cycle. This is confirmed by an increase in transactions, transaction prices in chosen markets and significant traffic growth on the platform. Lamudi’s financial statements are in line with predictions. Lamudi revenue grew by 460% in 2015 and it is set to grow even faster in 2016.”
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Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in Asia (Bangladesh, Indonesia, Myanmar, Pakistan, Philippines and Sri Lanka) and Latin America (Colombia, Mexico, Peru). The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.
The Asia Pacific Internet Group is a joint venture of Rocket Internet and Ooredoo. The group’s network consists of 16 e-commerce and online marketplace companies, operating across 15 countries. Since it was founded in 2014, APACIG has become the leading online platform in Asia, building top internet companies across the region. For more information visit www.apacig.com
ABOUT HOLTZBRINCK VENTURES
HV Holtzbrinck Ventures has been investing in internet companies for over ten years, primarily during their startup phase. In this time, Holtzbrinck Ventures has financed over 120 companies and has established itself as one of the few venture capital firms that has also founded market leading internet companies. Today, Holtzbrinck Ventures is one of Europe’s most successful early-stage investors in the internet sector, with investments in some of the internet’s biggest companies including Zalando, Wooga, Groupon, Westwing, Experteer, Dreamlines, Lazada, Flixbus, Quandoo, Lendico, Outfittery, Delivery Hero and Brands4Friends.
ABOUT TENGELMANN GROUP
Tengelmann Ventures is a 100% subsidiary of the Tengelmann Group and one of the leading venture capital investors in Germany. It has more than 40 shareholdings, among them early-stage-investments like Zalando, Delivery Hero, Stylight and ekomi. The focus is on early- as well as later-stage-investments in the areas of consumer Internet, market places and technology. Tengelmann Ventures invests around the world as lead, co-lead and co-investor.
The Tengelmann Group is an international retail company whose retail subsidiaries include OBI, KiK, Kaiser's Tengelmann, baby-markt.de and Plus.de. Also part of the group are the real estate company TREI Real Estate as well as the holding companies Emil Capital Partners in the USA and Tengelmann Ventures in Germany, which have been investing in start-ups for several years. This family-owned enterprise was established in 1867 in Mülheim an der Ruhr and is currently owner-operated by the fifth generation of the family. Operating in 20 different countries and employing a staff of more than 72,000 people who work in over 4,100 stores, the Tengelmann Group most recently turned over net annual sales of EUR 8.10 bn.
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About Rocket Internet
About Rocket Internet
Rocket Internet builds and invests in Internet companies that take proven online business models to new, fast-growing markets. Rocket Internet focuses on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Its network of companies operates in a large number of countries around the world with more than 36,000 employees. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.