Beco Capital increases stake in PropertyFinder

Following aggressive expansion in the region, going from two to seven markets in 12 months, PropertyFinder’s lead investor, Beco Capital, has committed to further funding of the site in the Mena region, the property portal said in a media statement today.

“Execution is what will set aside a winner from its peers and the PropertyFinder team has been impressive with the way it has successfully expanded the UAE business model throughout the region. So, we’re very excited by the opportunity of growing our stake in the business and providing the team with more support,” said Dany Farha, founder of Beco.

The property portal said that additional funding will be used to develop the product and tech team and intensify the sales and operations in key markets such as Saudi Arabia.

“Our commitment to propertyfinder goes beyond funding. I will personally spend time on the ground in Saudi to make sure that my past experience in this market is shared with the team. That’s how committed we are,” added Dany.

“Dany’s experience as co-founder of Bayt.com, the largest job site in the region, is extremely useful when it comes to rolling out our operation in a market like Saudi, which is known to be challenging. I’m confident that with his commitment, we’ll build a successful business in KSA,” said Michael Lahyani, CEO and Founder of the Propertyfinder Group.

Propertyfinder employs 120 people across seven markets.

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