Emerging Markets Property Group (EMPG), the United Arab Emirates-based owner of online property portal Bayut, has secured $100m in a series D round featuring corporate fund Exor Seeds, Arabian Business reported yesterday.
The round was led by investment firm KCK Group and featured Exor Seeds, a $100m fund formed by reinsurance company PartnerRe and its parent company, holding group Exor, as well as seven unnamed additional backers. The round’s $50m first tranche closed in August 2018.
Founded in 2005, EMPG runs Bayut.com, which lists apartments, villas, offices and retail spaces to rent and buy in the UAE It also owns real estate listing platforms in Pakistan, Bangladesh and Morocco and is active in Spain and Romania.
Haider Ali Khan, Bayut’s chief executive, said: “Bayut has enjoyed tremendous success over the last few years and this fundraising is a testament to our growth as an organisation 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.”
The company has now raised $160m altogether, it said in a statement. It has not released details concerning its earlier investors but closed $20m a series C round in January 2016 that came four months after its $9m series B.