Mubawab, a Moroccan real estate platform, has secured a US$10 million funding
The new investment will help the to help Mubawab expand in the Maghreb region and enhance its technology.
The platform allows vendors and homeowners to advertise their properties in Morocco and Tunisia.
The platform, receives two million monthly visitors and has 150,000 properties listed.
Mubawab was established in 2011 by chief Executive officer Kevin Gormand.
Last January, the company received US$7 million in funding from the UAE-based real estate firm Emerging Markets Property Group (EMPG).
And it has since received another US$10 million from the same source to accelerate its growth.
After a successful year, the startup expects to hire 200 new employees and create an in-house research and development department.
“Gaining the confidence of investors ensures our reputation on the market and with our customers.
In the Maghreb area, real estate still has a lot to offer, and technology is our strong link in this high-potential sector.
We have financial stability, additional real estate experience, and a long-term strategic relationship thanks to the EMPG’s support,” Gormand said.”
Mubawab’s leadership and vision in helping real estate professionals to meet demand confirmed the EMPG’s decision to invest in Mubawab.
In order to strengthen its role as a large and important real estate player in the Maghreb, according to Haider Ali Khan, CEO of the EMPG.
“This expertise is Mubawab’s power, which saw a performance rebound in the fourth quarter of 2020 and distinguishes it from other real estate players,” he explained.
Mubawab aspires to be the most popular real estate classifieds website in all of the Arab world, while remaining local and user-friendly.
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