ISLAMABAD – Emerging Markets Property Group (EMPG), the parent company ofZameen.com and reputed property portals in the Middle East, North Africaand South Asia regions, has announced that it has successfully closed around of investment amounting to $100 million, the largest funding round inthe group’s history.
EMPG’s round was led by KCK Group while eight other investors, includingExor Seeds, participated in the round.
KCK Group is an investment fund which focuses on diverse sectors includinglife sciences, energy and industrial technologies.
Exor Seeds is affiliated with Exor, the holding company controlled by theAgnelli family. Exor is one of Europe’s leading diversified holdingcompanies with a net asset value of over $24 billion, and a portfolioincluding distinguished names such as Ferrari, Fiat Chrysler Automobiles,Juventus FC and The Economist.
In addition to Zameen.com in Pakistan, EMPG owns and operates Bayut.com inUAE, Bproperty.com in Bangladesh, and Morocco’s Mubawab.
To date, EMPG has raised a total of $160 million, making it one of thehighest funded tech companies in the region. The group is present in 40cities across the UAE, Pakistan, Bangladesh, Morocco, Spain and Romania,with over 2,000 employees.
As EMPG’s Pakistan’s arm, Zameen.com has firmly established itself as thecountry’s leading real estate brand, present across 30 cities and employingupwards of 1,500 people in technology, sales, marketing and various otherfunctions. It is also the largest home-grown tech start-up in the country.
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Zeeshan Ali Khan, CEO of Zameen.com and Co-founder of EMPG, said,
Zameen.com has grown from a nascent start-up to the leading property techplayer in Pakistan. Along the way, we have created unmatched systems,products and technology solutions to propel the country’s real estatemarket, gaining global recognition. We remain committed to developing thisimage of Pakistan as a beacon of opportunity.
Group CEO Imran Ali Khan said the funds raised by EMPG would be used foracquisition and investment opportunities, technology development, and tofurther strengthen all portals’ position as top players in their respectivemarkets. “Pakistan is an integral part of our overall business.
We view the country as a growth engine in the region and will aggressivelyinvest in Pakistan in the coming years.”
