Mubawab raises $7 million
Morocco-based real estate platform Mubawab has raised $7 million funding from Emerging Markets Property Group (EMPG), a UAE-based real estate group.
Mubawab aims to use the investment to accelerate its growth and expand its team and operations in the real estate sector.
“I am proud of the group’s confidence in the project in Morocco in particular and in the Maghreb region in general. Mubawab is the first real estate website in Morocco thanks to a winning strategy that aims to support and satisfy all the involved parties in the Moroccoan real estate sector,” said Kevin Gormand, chief executive officer (CEO) and founder of Mubawab.
Founded in 2012, Mubawab provides several advertisements from individuals or professional groups through its online platform. Mubawab claims to have two million visits to its site per month and more than 150,000 active advertisements.
“The work that we have been doing for years, through the implementation of strategic and ambitious projects, has added a lot to the entire real estate sector. In the future, we will continue the innovation cycle that aims to develop the sector,” said Gormand.