Fast-growing real estate website Lamudi has reached more than half a million online listings less than a year after the startup launched.
Lamudi, the global property website for the emerging markets, launched in October and has since grown to cover 28 countries in Asia, the Middle East, Latin America and Africa.
The platform is already market leader in three countries in Asia and 10 in Africa, including Pakistan, Bangladesh, Myanmar, Nigeria, Kenya and Morocco. In the Philippines, Lamudi is now the country’s number one real estate website for visitors and traffic. The speedy growth of the platform merely highlights the importance of focusing business on the emerging markets.
Lamudi’s Global Co-Founder and Managing Director, Kian Moini, said: “The pace of our growth just shows how strongly people are responding to Lamudi. We have seen incredible demand for our service in each of our markets, including those where high-quality online property listings are a relatively new phenomenon.
Lamudi started as a small, core team in our Berlin HQ late last year and it has become an extensive international network. Our goal now is to be market leader in each of our countries within a short time. Having such a diverse team globally allows us to be experts in many fields.”
The platform has doubled in size since April, when Lamudi hit 250,000 online real estate listings. Lamudi also recently released Android and iPhone apps to allow house-hunters in emerging markets to rent, buy and sell property on the go.
Earlier this year, the company received $7 million USD in investment to grow its Asian operations, including funds from the investment arm of international multi-sector retailer Tengelmann Group.
In May, Lamudi launched in a further seven countries across Asia, Africa and the Middle East. The launch in Sri Lanka, Jordan, the Ivory Coast, Mozambique, Madagascar, Mauritius and Zimbabwe brought the number of countries where Lamudi is active to 28.