Technology

International real estate portal Lamudi raises $19 million

Funds will bolster presence in Latin America, Asia

Lamudi, a rapidly growing international real estate portal with a focus on emerging markets, has raised $19 million to strengthen its presence in Latin America and Asia. Three investors participated in the round: Asia Pacific Internet Group, a joint venture between Lamudi's parent company, Rocket Internet, and telecom firm Ooredoo; Holtzbrinck Ventures, the investment arm of the German publishing group; and current investor Tengelmann Ventures, a division of international retailer Tengelmann Group. Launched in October 2013, Lamudi has grown to cover 32 countries and features 800,000 listings, said Lamudi co-founder and Managing Director Paul Philipp Hermann. The firm raised $7 million last April. Lamudi fused its Latin American and Asian divisions in conjunction with this funding round and now has three divisions, including Africa and the Middle East. Paul Philipp Hermann Hermann said Lamudi's long-term goal is to become the real estate portal leader in each count...