Lamudi Secures Funding from Ringier AG and Axel Springer SE

Funding will be used to improve service quality and provide the best experience for users

Prayogo Ryza - 21 November 2018

Lamudi, property listing provider startup, announces to secure funding from Swiss media company Ringier AG and German media company Axel Springer SE. There aren't any numbers mentioned in it. Investment from both will be used by Lamudi to provide the best experience for users to search for property, such as bridging those looking for property from online to offline in Indonesia.

"We're so glad to include investors with high experience in the media industry, digital technology, and enthusiasm to make a breakthrough in the property industry in Indonesia. Investment from global players to Lamudi Indonesia is a great news for the startup development in Indonesia," Mart Polman, Lamudi Indonesia's Managing Director, said.

Furthermore, he explained that currently, Lamudi has become a trusted platform for consumers and industry players to find and promote real estate. The fresh funding is said to help Lamudi expand the company's effort significantly to help Indonesian people find their dream house.

Lamudi was first established at the end of 2013 by Rocket Internet. Supported by some investors with rapid growth, Lamudi is currently operating in Indonesia, the Philippines, Bangladesh, Sri Lanka, Mexico, Colombia, and Peru.

"Lamudi has a very similar vision and interest with us in terms of the local business model. We're very impressed with the sophisticated operational, also the skill of local and global management team, and the will to create value. We're optimistic Lamudi will make a significant change in Mexico and Southeast Asia's real estate industry," Robin Lingg, Ringier AG's Head of Marketplace, said.

Moreover, Andreas Wiele, Axel Springer SE's President Classified Media said that Lamudi has made a rapid development and happened to be in a great market. As one of the biggest company in the real estate industry, Axel Springer SE is confident to help Lamudi advanced development with the current insight and skills.

The two Lamudi investors will join the existing ones which have been supporting Lamudi, such as Asia Pacific Internet Group (APACIG), a joint venture of Rocket Internet and Ooredoo, and Holtzbrinck Ventures and Tengelmann Ventures.

Original article is in Indonesian, translated by Kristin Siagian

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