Malaysia: Frontier Digital injects $933k to up stake in classifieds portal E24

Catcha Group backed Frontier Digital Ventures (FDV) has injected $933,333 in its Central America portfolio company Encuentra24.com AG (E24), a classifieds portal with FDV’s stake increasing to 38.7 per cent in the company.

FDV, an operator of online classified businesses in frontier markets said in an announcement on Friday that it will exercise its option to subscribe for new shares in Panama-based E24 increasing FDV’s ownership from 34.9 per cent to 38.7 per cent.

“The cash injection will provide E24 with additional funds to accelerate the monetisation of its market leading position,” FDV said.

E24 is the leading general classifieds portal in the high growth Central American markets of Panama, Costa Rica, Nicaragua and Honduras. These markets have an expanding population and rapidly increasing Internet penetration.

E24 claims that total listings increased by 38 per cent since December 2015 to more than half a million at the end of November 2016.Also, monthly site visits have grown rapidly, by more than 50 per cent over the same period to 5.7 million visits in November 2016.

“Encuentra24.com is the clear market leader across Central America, a rapidly growing region with close to 100 per cent mobile penetration, providing consumers with easy access to the internet,” FDV’s co-founder and CEO, Shaun Di Gregorio said.

FDV added that the stake was increased on the basis of E24 continuing to exceed key performance indicators, which includes growth in advertisers, listings, monthly site visits, revenue and EBITDA.

FDV that currently has 15 portfolio companies operating businesses across 19 markets and has a strategy to partner with local entrepreneurs running market leading online classifieds businesses in frontier markets.As each business grows, FDV looks to increase its equity stake as each business matures.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.