Earlier this year, the Lamudi platform announced that it had 100,000 listings across its markets — meaning that the platform has grown 100% in the first quarter. Illustration: JAMAL KHURSHID.
LAHORE: Rocket internet’s real estate startup Lamudi has received almost $7 million in new funding from investors including Tengelmann Ventures, the German investment company of international multi-sector retailer Tengelmann Group.
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 to sell.
The announcement that a number of investors have provided €5 million or $7 million (USD) for Lamudi’s Asian operations comes as Lamudi revealed that it has grown to over 200,000 property listings globally this month. Lamudi.pk contains a major chunk of these 200,000 listings.
Earlier this year, the Lamudi platform announced that it had 100,000 listings across its markets — meaning that the platform has grown 100% in the first quarter.
Country Director Saad Arshed said that Lamudi is growing quickly and making progress in all Asian markets, adding that the investment will only speed up the process.
Published in The Express Tribune, April 16th, 2014.
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