$7million in investment for Lamudi’s Asian Operations – Global online real estate attracts new funding for operations across Asian markets

Islamabad, April 15, 2014 (PPI-OT): Leading global incubator, Rocket Internet’s, real estate start up Lamudi (www.lamudi.com) has received almost US $7 million in new funding 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 to sell.

The announcement that a number of investors, including the German Tengelmann Group, have provided €5 million or $7 million (USD) for Lamudi’s Asian operations comes, as 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 – meaning that the platform has grown by 100% in the first quarter.

Saad Arshed, Country Director, at Lamudi.pk, commented: “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 of making, Lamudi.pk, the market leader in Pakistan.

At over 200,000 listings globally, it is clear that Lamudi is fast becoming the online platform of choice for home-hunters across the globe.”

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 worldwide, it is rapidly becoming the market leader in online real estate across emerging markets.

For more information, contact:
Lamudi.pk
Arfa Software Technology Park
346-B Ferozpur Road
Lahore, Pakistan
Phone: 042 35972183 or 0345 8432275
Email: wecare@lamudi.pk