EMPG raises $200 million funding, eying IPO listing

EMPG raises $200 million funding, eying IPO listing

UAE-based EMPG, which owns dubizzle and Bayut, has raised a $200 million in a round led by US-based Affinity Partners, with new funding from KCK, Acacia Partners, plus several other investors including Prosus, which maintains its stake.

Founded in 2015 by Imran Ali Khan and Zeeshan Ali Khan, EMPG operates several online classifieds platforms across emerging markets focused on Mena, South and Southeast Asia, including Bayut, Dubizzle, Zameen.com, OLX (Pakistan, Egypt and Lebanon) and Lamudi.

EMPG will use the investment to solidify its position in the markets it operates in, preparing for an IPO in the near future.

Press release:

EMPG, the Dubai-based unicorn that owns and operates Bayut and dubizzle in the UAE and Zameen.com in Pakistan, today announced the closing of a $200 Million investment round at a significantly higher valuation than its last round in 2020 when they were highlighted as a billion-dollar company. This round was led by US-based growth equity fund Affinity Partners, with new funding from KCK, Acacia Partners, plus several other investors including Prosus, which maintains its stake. EMPG operates several leading online classifieds platforms across emerging markets focused on MENA, South and Southeast Asia.

The investment represents another significant milestone in EMPG’s journey as the Company establishes itself