Property Finder has increased its stake in online property listings platform Zingat from nearly 17% to 37% with an investment of about $12m.
Online real estate portal Property Finder has invested about $12m to increase its stake in Turkey-based peer Zingat to 36.7%, Menabytes has reported.
Founded in 2015, Zingat runs an online real estate information and listings platform. Property Finder had paid an undisclosed amount for a stake in the company that was sized at almost 17%, in August 2017.
Tom Hussey, vice-president of General Atlantic, the growth equity firm that invested $120m in Property Finder in November 2018, will join Zingat’s board of directors.
Michael Lahyani, founder and chief executive of Property Finder, said: “The partnership with Zingat has proved hugely successful, and has reinforced our confidence in the Turkish market and its economy.”
