Global incubator, Rocket Internet's real estate start up Lamudi has received almost US $7 million new funding for Asian operations from a range of investors including Tengelmann Ventures, the investment company of Tengelmann Group, the international multi-sector retailer.
Lamudi is an online property listings platform that currently operates across 21 countries, including five in Asia (Pakistan, Myanmar, Indonesia, Philippines and Bangladesh). The platform provides an innovative online solution for home hunters to buy or rent and for agents also.
Lamudi reveals that it has grown to over 200,000 property listings globally this month with Lamudi.pk, bearing a major chunk of these listings. Earlier this year the Lamudi platform announced it had 100,000 listings across its markets. Saad Arshed, Country Director, Lamudi.pk said: "Lamudi is growing quickly and making good progress in all the Asian markets. The announcement of this substantial funding for the Asian operations is very welcome and will be crucial in helping us to make better and faster progress towards our goal."
Launched in 2013, Lamudi is part of the portfolio of Rocket Internet, the leading global incubator. With a large and fast-growing number of property listings world-wide, it is rapidly becoming the market leader in online real estate across emerging markets.
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