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Lamudi attracts $7 million in new funding for its operations across five Asian markets

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Leading global incubator Rocket Internet’s real estate startup Lamudi has received almost $7 million USD 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 (Myanmar, Indonesia, Philippines, Pakistan 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. 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.

Paul Philipp Hermann, Co-Founder at Lamudi, commented: “Lamudi is growing quickly and making good progress in all of our markets. The announcement of this substantial funding for our Asian operations is very welcome and will be crucial in helping us to make better and faster progress towards our goal of becoming the market leader in online property in Asia.

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.

Source: Lamudi

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