Bayut.com’s parent company raises $100 million Series D
Source: MenaBytes
Dubai-based property website Bayut.com’s parent company Emerging Markets Property Group (EMPG), also headquartered in Dubai, has raised $100 million Series D, the company announced today. The round was led by a US-based family investment fund KCK Group and eight other investors including Exor Seeds, an investment fund associated with Exor – one of Europe’s leading diversified holding companies with a capitalisation of about $24 billion.
This round takes total investments raised by EMPG to $160 million, according to the statement – which means that only $50 million of this investment is fresh funding as the rest of $50 million was announced in August last year.
Apart from Bayut.com, EMPG also own and runs Pakistan’s leading property portal Zameen.com, Bproperty.com in Bangladesh, and Mubawab.ma in Morocco. Mubawab.ma was acquired by EMPG last year. The group is currently present in 40 cities across UAE, Pakistan, Bangladesh, Morocco, Spain, and Romania, and has over 2,000 employees.
Haider Ali Khan, CEO of Bayut.com, said, “Bayut has enjoyed tremendous success over the last few years and this fundraising is a testament to our growth as an organization and a brand in the UAE. With the fastest portal in the world and the most advanced technological platform, we look forward to further consolidating our position in the UAE in 2019 by providing best-in-class experience to our consumers and clients.”
