Frontier DV pumps another $5.2M into its property site, Infocasas

Two years after Frontier purchased 31 percent of Latin American property portal, Infocasas, it looks to up the ownership to 51 percent.

Frontier Digital Ventures paid $1.2 million for 31 percent of Infocasas back in September 2017. The deal included an option to move to 51 percent and it has chosen to do so, paying $5.2 million.

The money is being provided through a capital raise from an existing shareholder.

Infocasas shows property listings in Paraguay, Bolivia and Uruguay. Paraguay and Bolivia are economically challenged and while Uruguay is politically stable and a high-income country it has a small population of 3.5 million.

But the property portal recently launched in Peru which has a GDP larger than the three of them combined and a population of 32 million.

Frontier CEO Shaun Di Gregorio said Infocasas was a standout performer in the company’s portfolio.

The company’s portfolio of real estate and auto classified websites comprises more than a dozen companies.

These include Pakistan-focused Zameen, Phillipines-focused Hoppler and Angola-focused AngoCarro. Frontier says AngoCarro is the first auto classified site in that country.

Read more here

Join us February 26-27 for the Property Portal Watch Conference Bangkok 2020.