Property classifieds site Zameen raises fresh funding; now valued at $83 million

Malaysia-based Frontier Digital Ventures, which invests in online classifieds businesses in frontier markets, has announced that it will be ploughing a further US$2.1 million into Zameen, a Pakistan-based property portal.

A brief on Reuters says new shares are being offered to existing shareholders, which also include Vostok New Ventures and some undisclosed names.

After new funding Zameen.com is valued at US $83 million. The startup raised US$20 in series C funding in January and a few months later managed to raise US $9 million  in series B round.

Co-Founder of Zameen Iran ALi Khan mentioned this was an “Internal round where both shareholders have participated” and further he refrained from giving ay more information on the matter.

Frontier Digital Ventures will maintain  their current equity stake of 30 percent.

Zameen.com was founded in Pakistan by the Ali Khan brothers in 2006 and has exhibited remarkable progress since then. Today, the website boasts more than 10,000 registered agencies, 600,000 subscribed members, 3.5 million monthly visits and over 200,000 new listings every month, and popular mobile apps across platforms.