Morrocan real-estate startup, Mubawab has raised a $7-million investment from UAE-based Emerging Markets Property Group (EMPG).
According to reports, the Moroccan firm will use the funding to grow its team and expand its operations.
Mubawab connects those looking to sell or property to individuals and other players in the real-estate sector.
The company — which was founded in 2012 by Kevin Gormand— claims to have over two million monthly site visits, a client portfolio of more than 800 partners and more than 150 000 active listings.
Last year in June the company acquired Jumia House and has operations in Morocco, Algeria, Tunisia on the continent as well as in Qatar, Bahrain and Oman in the Middle East.
A statement by Emerging Markets Property Group on Mubawab’s acquisition of Jumia House suggests that the group owns the Moroccan company.
In 2018, Emerging Markets Property Group had acquired Mubawab for an undisclosed sum.
