EMPG, the Dubai-based unicorn that owns and operates Bayut and Dubizzle announced the closing of a $200 million investment round on Thursday.
The value is significantly higher than its last round in 2020. This round was led by US-based growth and equity fund Affinity Partners, with new funding from KCK, Acacia Partners and other investors including Prosus.
EMPG stated that it would continue to remain focused on its core markets, the majority of the investment would flow into the UAE, the company’s largest market where Bayut and Dubizzle operate.
“With this round of investment, EMPG begins a new chapter in its success story. We are on track to double our revenue over the last 24 months while achieving an EBITDA positive position, and we look forward to continuing this strong growth trajectory,” said EMPG CEO Imran Ali Khan.
“With the successful closure of this round the company’s focus will now turn towards preparing for an IPO in the near future, which has always been part of our larger vision,” he added.
“With the incoming funds, we aim to significantly invest in our tech platforms to further strengthen our product offering across the board to ensure that our users and customers are provided the best-in-class classifieds experience,” said Haider Khan, Head of EMPG MENA.
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