Digital investment firm Frontier Digital Ventures has made its second African startup investment, putting money into Propertymaputo.com, Mozambique’s leading online property classifieds business.
Frontier Digital Ventures said the investment continued its successful strategy of partnering with leading online classifieds businesses in frontier markets around the world.
Disrupt Africa reported earlier this month the company had invested another undisclosed amount in Tanzanian classifieds platform Kupatana.com, with the Propertymaputo.com investment fitting into this strategy.
Propertymaputo was founded by South African Bryan Wester and has focused on the English language market in Mozambique. It will now be expanding its focus to cover Portuguese-speakers and revamping its design and functionality.
“The business has a great platform in place and is moving in the right direction in what we see as a truly dynamic market in Africa. The combination of our experience and funding along with Bryan and the team’s passion and commitment we think makes for a great opportunity to build a market leading business in Mozambique,” said chief executive officer (CEO) and founder Shaun Di Gregorio.
Di Gregorio said Frontier Digital Ventures will utilise its extensive resources and expertise to solidify Propertymaputo.com’s dominance of the market, whilst providing critical strategic and operational support to continue to grow the business.