Lamudi Indonesia, an online property marketplace owned and operated by Asutralia’s Digital Classifieds Group (DCG), has received an undisclosed amount in strategic financing from Living Lab Ventures (LLV), the corporate VC arm of Indonesia real estate development company Sinar Mas Land.
“This marks another milestone for LLV, as it reflects our strong belief in DCG and Lamudi’s capability to drive the largest tech-based ecosystem for the property technology industry in Indonesia, especially through strategic collaboration and integration within the Sinar Mas Land ecosystem,” said Bayu Seto, Partner of Living Lab Ventures.
Also Read: Aussie group DCG acquires Lamudi’s Indonesia, Philippine businesses
“This move will gain access to new avenues as we are expanding our reach into Australia and strengthening our muscles in the Asia-Pacific proptech industry,” he added.
Lamudi was founded in 2013, initially focusing on building dominant property classifieds in frontier markets. Over recent years, Lamudi has shifted from advertising to transaction-based business models to accelerate revenue and growth.
Currently, it provides services, such as omnichannel marketing solutions, for over 425 property projects. The firm works with over 30,000 real estate agents in the archipelago.
“With the backing of Living Lab Ventures, we are poised to expand our operations and solidify our position as the leading real estate marketplace in Indonesia. This investment will enable us to further develop our platform, improve user experience, and provide unparalleled value to our customers,” stated Mart Polman, CEO of Lamudi Indonesia.
DCG acquired Lamudi’s Indonesia and Philippine businesses from Dubizzle Group in October last year. The deal follows DCG’s acquisition of the leading Bangladeshi portal, Bproperty, in January 2023.
—
Image Credit: Lamudi
The post Sinar Mas Land’s CVC arm invests in Lamudi Indonesia appeared first on e27.