Affinity Partners and Prosus have invested $200 million in EMPG, an online marketplace for classified ads and property sectors in emerging nations. Acacia Partners and KCK, two new investors, also participated in the round.
EMPG’s flagship products, which are available in over 50 nations around the Middle East, North Africa, South Asia, and Southeast Asia, include Bayut, Dubizzle, Zameen, OLX (Pakistan, Egypt, and Lebanon), and Lamudi.
EMPG declared that it will keep concentrating on its core markets, which are now cash flow positive and expanding 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 majority of the new money will go into the company’s technological foundation. The business intends to list itself soon as well.
The Dubai-based business secured $150 million in a round-headed by OLX Group in April 2020, valued at more than $1 billion.
