FDV, which partners with entrepreneurs and online businesses within the property and automotive online vertical classifieds space, has upped its stake in Encuentras24 from 34.9% to 38.7%.
The Panama-based property portal advertises apartments, lots and commercial property listings in the high growth Central American markets of Panama, Costa Rica, Nicaragua and Honduras. The cash injection from FDV will provide E24 with additional funds to accelerate the monetisation of its market leading position.
FDV’s co-founder and CEO, Shaun Di Gregorio, said:
“Encuentra24.com is the clear market leader across Central America, a rapidly growing region with close to 100% mobile penetration, providing consumers with easy access to the internet. Our partners in the region, Boris Metraux and Wendy Jordan, are ‘A grade’ entrepreneurs and continue to do an outstanding job in growing the business. We’re excited to be in partnership with such capable entrepreneurs and look forward to Encuentra24 dominating the region.”