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Property classifieds website raises $120 million

dubai - New investment round was led by General Atlantic

Property Finder, a real estate classifieds portal in the Middle East, North Africa and Turkey, has announced $120 million in investment from its latest investment round led by General Atlantic, a global growth equity firm. The round also included participation from existing shareholder, Vostok New Ventures Ltd.

Property Finder will use part of the funds to deliver on its strategy to build innovative products which provide greater transparency, effective data and a better experience for property seekers.

Michael Lahyani, CEO and founder of Property Finder, said: "This new capital will continue to support our mission of bringing more transparency and information to the 6 million property seekers visiting our platform each month. I'm excited for the next growth phase of the business and for all the improvements we can bring to property buyers, renters and sellers."

"Property Finder's focus on building a world-class product for property seekers is generating fantastic momentum across the region," said Chris Caulkin, principal and head of technology for EMEA at General Atlantic. "We are thrilled to partner with the Property Finder team during this exciting growth phase of the business."

As part of the transaction, Caulkin will be joining Property Finder's board of directors.  

- business@khaleejtimes.com