Navent, the leading online real estate and job classifieds company in Latin America, has announced it has raised US$20 million from Riverwood Capital, a global technology private equity firm. The funding will be used to continue Navent’s expansion plan and accelerate the growth of its properties, which include Imovelweb (Brazil), Bumeran (Latin America), Inmuebles24 (Mexico), AdondeVivir (Peru), and Plusvalia (Ecuador), among others.
“As Internet penetration continues to accelerate in Latin America and the complex and fragmented digital advertising marketplace grows in size and importance, we feel confident that Navent will continue to capitalize on these trends. Our flagship operations continue to attract a growing number of real estate and jobs advertisers as both our desktop and mobile audiences continue growing every month.” said Nicolás Tejerina, Navent Chief Executive Officer.
“These funds will enable Navent to continue expanding its regional footprint across current markets and deploy operations into new and untapped economies in Latin America. We also plan to increase our investments in Navent’s regional technology platform, with a main focus in mobile, through which we already derive a third of our traffic.”
"During the past 2 years, Navent has accelerated its growth and consolidated its leadership position in Latin America in both on line real estate and jobs. We are very enthusiastic about the future of the Company as millions of users across the region use our properties to buy or sell a home or look for a job”, said Francisco Alvarez Demalde, Riverwood Capital Founding Partner.
“As one of the top internet companies in Latin America, Navent enters into a new phase of growth, focused on continuously improving our technology platform and team, in order to offer a better product and more value to our users and customers.”