Property Finder Completes Share Buyback with $90 Million Financing

Property Finder Completes Share Buyback with $90 Million Financing

By Staff Writer, 15 May 2024

Property Finder, UAE's leading real estate platform, has successfully raised $90 million in debt financing, enabling the repurchase of shares from BECO Capital, its initial investor.

The debt financing was provided by Francisco Partners, a prominent investment firm specializing in technology ventures, with offices in San Francisco, New York, and London.

Property Finder utilized the funds to finalize the buyback of BECO Capital's entire stake, marking BECO Capital's exit as the first institutional investor in the company. Notably, J.P. Morgan and White & Case served as advisors to Property Finder throughout the transaction process.

Michael Lahyani, CEO and founder of Property Finder, expressed gratitude for the trust and investment from BECO Capital over the past 11 years, highlighting the quality of their operations and outcomes.

Lahyani affirmed the company's steadfast commitment to the real estate market and its dedication to generating strong returns for stakeholders.

BECO Capital, the first venture capital firm established in the UAE, played a pivotal role in Property Finder's early-stage funding, making this share buyback program a significant milestone.

With this transaction, BECO Capital exits with a substantial return on its investment, further solidifying Property Finder's position in the real estate industry.

Source: Nathaniel Lacsina / Gulf News

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