Berlin based, property portal Lamudi secures second round of funding to grow operations across Asia and Latin America. Backed by Rocket Internet, Lamudi recently merged two regional companies before securing three investors. The funding round was led by Asia Pacific Internet Group which is a joint venture of Rocket Internet and Ooredoo; Holtzbrinck Ventures, the investment arm of the German publishing group; and current investor Tengelmann Ventures, a division of international multi-sector retailer Tengelmann Group.
Lamudi’s Global Co-Founder, Paul Philipp Hermann, said: “Since Lamudi’s foundation, our goal has been to build the biggest real estate platform in the emerging markets. In less than two years, we have created a comprehensive online database for house-hunters that stretches from the Philippines to Peru.
This significant injection of funds is a great vote of confidence in Lamudi’s business model and speaks volumes about the demand that exists for online property search in emerging countries. We will use the investment to improve our product on both desktop and mobile, while further consolidating our leading position across Asia and Latin America.”
Since the launch of Lamudi in October 2013, the Berlin based startup has expanded across 32 countries globally with over 800,000 real estate listings. Over 50% of listings are in Asia and Latin America.
In April 2014, Lamudi received $7 million in funding from Tengelmann Ventures and other undisclosed investors to boost its Asian operations. The company is now the leading property platform in Bangladesh and Myanmar, with strong growth also seen in its Pakistan, Philippines, Sri Lanka and Indonesia branches throughout 2014.