Two years after Frontier purchased 31 percent of Latin American property portal, Infocasas, it looks to up the ownership to 51 percent.
The money is being provided through a capital raise from an existing shareholder.
Infocasas shows property listings in Paraguay, Bolivia and Uruguay. Paraguay and Bolivia are economically challenged and while Uruguay is politically stable and a high-income country it has a small population of 3.5 million.
But the property portal recently launched in Peru which has a GDP larger than the three of them combined and a population of 32 million.
Frontier CEO Shaun Di Gregorio said Infocasas was a standout performer in the company’s portfolio.
The company’s portfolio of real estate and auto classified websites comprises more than a dozen companies.
These include Pakistan-focused Zameen, Phillipines-focused Hoppler and Angola-focused AngoCarro. Frontier says AngoCarro is the first auto classified site in that country.
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