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Technology


DUBAI’S PROPERTY FINDER RAISES $90 MILLION DEBT FROM FRANCISCO PARTNERS

 * Deal helped finance buyout of its first institutional investor
 * Transaction allows BECO Capital to exit with ‘strong returns’

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By Nicolas Parasie
May 14, 2024 at 9:30 AM GMT+3
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Dubai-based Property Finder raised $90 million in debt from Francisco Partners
to help finance the buyout of its first institutional investor, signaling
continued foreign interest in the United Arab Emirates’ thriving real estate
market.

The online real estate platform bought back the stake held by BECO Capital, a
regional venture capital firm that previously invested in ride-hailing app
Careem — now owned by Uber — and failed logistics startup Fetchr. Property
Finder said the deal allows BECO to exit “with a strong return on its
investment.” It didn’t give details.

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