Categories: FeaturedNewsStartups

Zameen.com gets Major Investment from Catcha Group, the Largest Online Investor in ASEAN Region

Earlier this month, Zameen.com, a leading property portal received a hefty investment from the Singapore based Catcha Group and Frontier Digital Ventures. It is noteworthy that Catcha group is a renowned entrepreneurial corporation that is keen on investing in great ideas. Zameen.com has reportedly sold almost 30% of the company shares. However, this interest is non-controlling so the existing management will retain control. The acquired company will formally launch later this year.
Founded in 2006 by Zeeshan Ali and Imran Ali, the enterprise has worked hard to make it to the top. Things started to finally look up when in 2012, Giles Blanchard became a part of the team. Giles has played a vital role in the success of SeLoger.com, a property portal operational in France. With Giles as the chairman at Zameen.com, the website quickly achieved success and has come to dominate the online property websites in Pakistan. Other property portals like Lamudi.pk and PakistanRealEstate.net are following behind.

Also See: A Comparison of 7 Pakistani eCommerce Sites

In April, 2014 Zameen.com launched its official monthly magazine that brings together exclusive content for the property buyers and sellers. Over the years, the founders have focused on developing other value-added products to the property portal. Perhaps it is this temperament for innovation which attracted the funding. The new board members definitely seem to be of the same opinion. Shaun Di Gregoria, the new board member, pointed out that Zameen.com was an ideal online business to invest in and with the help of Frontier, it could see better growth.
The investment is certainly a good news for Pakistanis as it means that the foreign firms are finally looking towards the country to invest and utilize the countless opportunities that Pakistan represents as a developing nation.

“The deal is extremely significant as it is the first major investment by a foreign conglomerate in Pakistan through a local organization.” – Zeeshan Ali, co-founder Zameen.com

Already groups like Rocket Internet are investing heavily in various ventures in Pakistan. With the current rate of growth in startups, such investments can help businesses significantly and can help the eCommerce industry grow.

Source: Tribune

Sponsored
Qurat Zafar

Her heart skips a beat everytime she sees a new, beautiful gadget. A tech enthusiast to the core, Qurat loves reading, writing and wasting time. She tweets at @q_zafar.

Share
Published by
Qurat Zafar
    Sponsored

Recent Posts

Shaniera Akram Slams Social Media Page for False ‘Divorce XI’ Listing of Wasim Akram

Former Pakistan cricket captain and legendary fast bowler Wasim Akram has been falsely listed in…

1 hour ago

Tooran Asif Appointed as President & CEO of U Microfinance Bank Limited by PTCL Group

Islamabad: PTCL Group, the largest ICT services provider in Pakistan, is pleased to announce the…

2 hours ago

Elon Musk Proposes ‘Twitter Model’ to Boost U.S. Economy and Workforce Efficiency

Elon Musk, the CEO of SpaceX and Tesla, has proposed applying a "Twitter model" to…

3 hours ago

Govt Raises PKR 2.25 Trillion Through Ijarah Sukuk Since December 2023

ISLAMABAD: The Securities & Exchange Commission of Pakistan has helped the DMO in conducting 18…

3 hours ago

Shanghai Man Loses $28,000 to AI ‘Girlfriend’ Scam

SHANGHAI: Chinese official media reported on Wednesday that a guy from Shanghai lost over $28,000…

3 hours ago

Govt Pledges Support to Japanese Automakers, Links Incentives to Exports

Islamabad: Federal Minister for Industries and Production, Rana Tanveer Hussain, held a meeting with representatives…

3 hours ago