VC firms inject €16m into Lamudi

The Asia Pacific Internet Group - a joint venture between Rocket Internet and telecommunications group Ooredo - also invested.

The investment will be used to expand the company's operations in Asia and South America, as well as to improve its desktop and mobile offerings.

Previous funding
Tengelmann Ventures invested €5m in April 2014 to expand the company's operations in Asia.

Company
Launched by internet platform Rocket Internet in October 2013, Lamudi is a property portal for the emerging markets. It currently covers 32 countries in Asia, the Middle East, Africa and South America. It has 800,000 listings, with 550,000 listings in Asia and South America alone. Lamudi released apps for Android and iOS last year.

People
Paul Philipp Germann is co-founder of Lamudi.

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• Topics
• DACH
• Expansion
• Technology
• Germany
• Holtzbrinck Ventures