Dubai - Sharikat Mubasher: Property Finder, the online real estate platform based in Dubai, secured $90 million in debt finance from Francisco Partners, a leading global investment firm.
In a statement, Property Finder announced it will use the proceeds to complete the buyback of the entire stake held by Beco Capital, the first institutional investor in the company.
Beco Capital was a key investor in the early-stage round of funding for Property Finder, playing an instrumental role in its development and success.
Michael Lahyani, CEO and Founder of Property Finder, said: “Our commitment to the real estate market stands firm, as we aim to continue to drive strong returns for our ecosystem.”
Meanwhile, Dany Farha, Co-founder and Managing Partner of Beco Capital, commented: “As we exit our investment which has produced true venture returns for our investors, and prepare to sunset the fund, we remain excited at the massive opportunity that still lies ahead for Property Finder to continue to grow and serve its customers across the region in one of the largest sectors across the regional economies.”
It is worth noting that J.P. Morgan and White & Case acted as advisors to Property Finder on the transaction.
