Stockholm, 2016-01-11 07:57 CET (GLOBE NEWSWIRE) --
Vostok New Ventures Ltd. ("Vostok New Ventures" or the "Company") today announces it has agreed to invest USD 20 mln into Propertyfinder, the leading property vertical in the MENA region. Vostok New Ventures is the sole investor in this primary funding round and will own 10% of Propertyfinder following the closing of the transaction.
Propertyfinder Group was founded 10 years ago by Michael Lahyani and operates real estate classifieds platforms in 7 countries across the MENA region. Propertyfinder is headquartered in Dubai, employs more than 150 people and is profitable in its core markets as well as on a group level. For more information on Propertyfinder, please visit www.propertyfinder.ae .
Vostok New Ventures’ Managing Director Per Brilioth comments:
”We are excited to announce our investment into Propertyfinder. We have spent a lot of time mapping out our preferred niche of online marketplaces and classifieds operators in the region and are happy to partner up with Michael and his team at Propertyfinder, which is the clear market leader in UAE and a leader in the MENA-region as a whole. We look forward to support the company and the team in the years to come.”
Per Brilioth Managing Director
For further information please contact: Björn von Sivers, Investor Relations: +46 (0)8-545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com .
