Samreen Ahmad · · 1 min readOLX-backed property platform scoops up $200m funding
EMPG, a property verticals and online classifieds platform in emerging markets, has raised US$200 million from Affinity Partners and Prosus. Fresh investors like KCK and Acacia Partners also joined the round.
Team EMPG / Photo credit: EMPG
Present in over 50 countries across the Middle East, North Africa, South Asia, and Southeast Asia, EMPG’s flagship products are Bayut, Dubizzle, Zameen, OLX (Pakistan, Egypt, Lebanon), and Lamudi.
EMPG said it would continue to remain focused on its core markets, which are already cash-flow positive and growing sustainably.
“We are on track to double our revenue over the last 24 months while achieving an EBITDA positive position, and we look forward to continuing this strong growth trajectory,” said EMPG CEO Imran Ali Khan.
The firm will invest most of the fresh funds in its technology platform. The company also has plans to be listed in the near future.
In April 2020, the Dubai-based company had raised US$150 million in a round led by OLX Group at a valuation of over US$1 billion.
Editing by Arpit Nayak
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