Property Finder's CEO on MENA Growth: What Inspires Global Investors?
Mokshita P.
What's the Deal

Property Finder's CEO on MENA Growth: What Inspires Global Investors?

Property Finder raises US$90M from Francisco Partners to buy back BECO Capital shares, marking a significant milestone in the MENA real estate market.

Property Finder, which is the top property portal in the Middle East and North Africa, has announced a major financial move. They've raised US$90 million in debt financing and used the funds to buy back shares from BECO Capital, their first institutional investor. This debt financing was provided by Francisco Partners, a major global investment firm that works with tech companies and has offices in San Francisco, New York, and London.

Michael Lahyani, the CEO and founder of Property Finder, emphasised the trust BECO Capital had in the company since they first invested 11 years ago. He believes this move will inspire other regional founders to elevate their companies, attract global talent, and create a thriving entrepreneurial ecosystem in the MENA region.

BECO Capital was the first venture capital firm to launch in the UAE and played a crucial role in the early stages of Property Finder’s growth. With the share buyback, BECO Capital exits with a significant return on their investment. Dany Farha, Co-Founder & Managing Partner of BECO Capital, expressed his pride in backing Michael Lahyani and Property Finder, noting the impressive returns and continued growth potential of the company.

Lahyani also praised the UAE's leadership for creating a market environment that attracts global investors like Francisco Partners. He highlighted his team's dedication to growing the business and serving the real estate industry and home seekers.

Francisco Partners, known for investing in tech and tech-enabled services, sees this financing as a strong vote of confidence in Property Finder and the MENA region's real estate market. This deal marks Francisco Partners' first investment of this kind in the UAE.

General Atlantic, another major investor in Property Finder, supported the decision for debt financing and the share buyback, further validating the company's strategic direction.