Dubai-based unicorn Emerging Markets Property Group (EMPG) has completed a US$200 million investment led by Affinity Partners, a global investment firm launched in 2021 by former US president Donald Trump’s son-in-law Jared Kushner.
New investors KCK and Acacia Partners joined the funding round along with the existing investors, including Prosus.
EMPG will use the funds to solidify its position in its operating markets and prepare for an IPO soon. With the majority of the investment being earmarked for the UAE, the firm will continue to remain focused on its core markets. A significant part of the incoming funds would also be devoted to further investment in its proprietary and highly scalable technology platform.
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Founded in 2015 by Imran Ali Khan and Zeeshan Ali Khan, EMPG operates several online classifieds platforms across emerging markets focused on the Middle East and Africa, South and Southeast Asia, including Bayut, Dubizzle, Zameen.com, OLX (Pakistan, Egypt and Lebanon). EMPG also owns and operates the Southeast Asia-focused property marketplace Lamudi.
EMPG’s popular classifieds and transactional product offerings are deeply rooted in its technology platform and benefit from strong network effects. The company has invested heavily in its technology infrastructure, with its own tech centres comprising over 500 engineers.
“With this investment round, EMPG begins a new chapter in its success story. 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.
Previously, EMPG raised US$279 million, according to CBInsights and Crunchbase.
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