Porperty portal Zameen receives fresh $2.1m at $83m valuation

Pakistani real estate portal Zameen has received $2.1m in funding from Malaysian investor Frontier Digital Ventures.

New shares are also being offered to the firm’s existing backers including Vostok New Ventures and Catcha Group.

The total size of the round is undisclosed beyond Frontier Digital Ventures’ contribution that sees it maintain its 30% stake in the business.

The round follows the $20m Series C Zameen raised in January and values the company at $83m.

It aims to offer a portal that connects buyers with seller and owners with renters across Pakistan.

The company has grown its team from 90 employees at the start of 2014 to more than 500 at the start of the year.

Zameen is now present in 30 cities around the region and counts more than 3m monthly visitors to its site.

It is a part of Emerging Markets Property Group (EMPG) that controls property portals across the Middle East.

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