* Global property portal receives investment boost to grow operations

Emerging markets real estate network Lamudi has raised EUR 16 million (USD 18 million) in investment to grow its operations in Asia and Latin America. Lamudi received the multi-million dollar investment after merging its businesses in the two regions to form one company, Lamudi Global.

Three investors have backed the business: 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, Kian Moini, 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.”

Launched by German internet platform Rocket Internet in October 2013, Lamudi is a global property portal operating exclusively in the emerging markets. Since its launch, the Berlin-based company has expanded to cover 32 countries in Asia, the Middle East, Africa and Latin America. Lamudi now hosts more than 550,000 property listings in Asia and Latin America alone.

In April, Lamudi received EUR five million (USD seven million) in funds 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.

In Latin America, Lamudi Mexico has seen the number of listings on its website increase six-fold over the past year. The portal is already the leading real estate website in cities including Monterrey, Tijuana and Querétaro. In Colombia, more than 20,000 house-hunters visit the Lamudi.com.co every day. Meanwhile, Lamudi Peru has grown in less than six months to host half as many listings as the country’s leading property portal.

In 2014, Lamudi released its Android and iOS apps in a bid to meet the growing demand for mobile property search in the emerging markets. In its first year in operation, the company launched a range of innovative projects, including a research report on the future of real estate in the emerging markets.

About Lamudi: Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 32 countries in Asia, the Middle East, Africa and Latin America, with more than 800,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.

About Holtzbrinck Ventures: HV Holtzbrinck Ventures has been investing in internet companies for over ten years, primarily during their start-up 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 or Brands4Friends.

About Tengelmann Group: Tengelmann Group (www.tengelmann.de) is an international operating retail company whose business interests are spread across a number of different industries. Subsidiaries include OBI, KiK, Kaiser's Tengelmann, Tengelmann e-stores ,TREI Real Estate as well as Tengelmann Ventures, one of Germanys leading Venture Capital Company which invested in over 40 fast growing start-ups worldwide. The family-owned business was established in 1867 in Mülheim an der Ruhr and is currently managed in fifth generation. Tengelmann Group is operating over 4,000 stores in 15 different countries and employing more than 80,000 people. The group’s annual turnover is totalling EUR 11bn.

About APACIG: The Asia Pacific Internet Group (www.apacig.com) is a joint venture of Rocket Internet and Ooredoo. The group’s network consists of 13 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 in the region.