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Malaysia-based Frontier Digital Ventures, which invests in online classifieds businesses in frontier markets, has announced that it will be ploughing a further US$2.1 million into Zameen, a Pakistan-based property portal.
A brief on Reuters says new shares are being offered to existing shareholders, which also include Vostok New Ventures and some undisclosed names.
The new round of funding values Zameen at US$83 million. The startup raised US$20 million in series C funding in January, just months after a US$9 million series B round.
Imran Ali Khan, co-founder of Zameen, told Tech in Asia that this was an “internal round where both shareholders have participated.” He refrained from giving any more information or disclosing the entire figure.
Frontier Digital Ventures will maintain its current equity stake of 30 percent. Its other investments in Pakistan include automobile classifieds site Pakwheels.
This post Property classifieds site Zameen raises fresh funding; now valued at $83 million appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/zameen-fresh-funding-valuation
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