Property Finder Secures $90 Million Debt Financing
Property Finder plans to tap into the Saudi and Turkish markets.
Dubai-based Property Finder has raised $90 million in debt financing from Francisco Partners, with the specific financial terms of the deal remaining undisclosed. The injection of funds is earmarked to facilitate the buyout of its first institutional investor, BECO Capital.[1]
Michael Lahyani and Renan Bourdeau founded the online real estate platform Property Finder in 2007, and they recently completed the acquisition of BECO Capital's stake.
While Property Finder has expanded its footprint across the region, penetrating markets in Qatar, Bahrain, and Egypt, it currently plans to tap into the Saudi and Turkish markets.
JPMorgan & Chase Co. and White & Case advised Property Finder throughout the debt financing process. For Francisco Partners, this investment marks its first foray into the UAE's real estate market.