The property-tech startup was founded in 2011 by Kevin Gormand with the aim of enablingsellers and landlords to advertise their properties in Morocco and Tunisia. Mubaweb receives two million monthly visitors and has 150,000 properties listed.
The company secured US$7 million in funding from the UAE-based real estate-focused firm Emerging Markets Property Group (EMPG) last January, and has now taken on another US$10 million from the same source to speed its growth. The startup has had a strong past year, and is now expected to add 200 new employees and develop an in-house research and development department.
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 now 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 is a guarantee of credibility on the market and towards our clients. Real estate still has a lot to give in the Maghreb region and technology is our strong link in this high potential market. Our backing from the EMPG provides us with financial security, additional real estate expertise and a long-term strategic partnership,” said Gormand.
Mubawab’s leadership and vision in helping real estate professionals to meet demand reinforced the EMPG’s decision to invest in Mubawab 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 the strength of Mubawab, which experienced a performance rebound in the last quarter of 2020 and sets it apart from other real estate players,” said he.
