Lamudi, a Germany-based real-estate listings platform formed by e-commerce incubator Rocket Internet, has received €29m ($31.4m) in series C capital from existing shareholders including retailer Tengelmann Group’s investment unit, Tengelmann Ventures.
Holtzbrinck Ventures, the VC firm spun out of and backed by publisher Georg von Holtzbrinck, and Asia Pacific Group, a joint venture between Rocket Internet and telecommunications firm Ooredoo, also supported the round.
Founded in 2013, Lamudi operates a property listings marketplace focused on emerging markets in Asia and Latin America. The service currently covers nine countries, and Lamudi will use the cash to further expand its operations.
Lamudi raised $18m in a February 2015 series B round backed by Tengelmann Ventures, Holtzbrinck Ventures and Asia Pacific Internet Group, after Tengelmann Ventures had provided $7m in series A funding in 2014.
Paul Philipp Hermann, co-founder and managing director of Lamudi, said: “Our goal is to build the biggest real-estate platform from the Philippines to Mexico. The additional funds will allow us to achieve market leadership and dominance in more markets at a faster rate.”