Naspers, one of the biggest internet groups in Africa has its eyes set on Berlin-based online car marketplace, Frontier Car Group.
The South African-based firm, which is one of the biggest technology investors in the world, through its classifieds business OLX is investing $89 million (R1.1 billion) online car marketplace Frontier Car Group.
The Frontier Car Group is an online car marketplace startup based in Berlin, Germany.
The investment by Naspers has been facilitated by OLX Ventures.
The Frontier Car Group currently operates in countries.
Naspers said in a statement that the startup will use the funds, as well as access to OLX Group’s global footprint in high-growth markets, to fuel its expansion into new territories and enhance its instant cash services for users.
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