Classified property listings website Lamudi, a subsidiary of Rocket Internet, has secured $7m from Tengelmann's corporate venturing unit.
Lamudi, the real estate website owned by Germany-based incubator Rocket Internet, has landed in $7m in funding from Tengelmann Ventures, the investment arm of Germany-based retailer Tengelmann Group.
Although this is the first time Tengelmann Ventures has invested in the property listings site, it is not a stranger to Rocket Internet, having invested some of its previous offshoots including e-commerce sites Zalora and Lazada.
The investment means that Lamudi will be able to expand its Asian operations and begin…