Malaysian Venture Capital Firm acquires Chile-based Yapo.cl
Details:
- Frontier Digital Ventures acquired Chile-based Yapo for approximately US$19.5 million.
- Yapo.cl, founded in 2011 has up to 8 million users monthly
- Frontier will capitalize on the growing online classified market, which is poised to hit US$463 billion by 2023.
- This is Frontier’s fourth acquisition in Latin America, after the following:
- Fincaraíz (Colombia)
- InfoCasas (Uruguay & Paraguay)
- Encuentra24.com (Panama and other countries in Central America)
Frontier Digital Ventures focuses on online marketplace businesses in emerging markets, specifically in the property and automotive verticals. The company recently bought Yapo.cl, a leading classified services ads platform, with up to 8 million users per month that focuses heavily on the auto and real estate segment from Adevinta to aid in its expansion into the region.
This acquisition would help Frontier expand its reach in the Latin American region.
The Malaysian venture capital firm has acquired various companies in Latin America, including:
- Fincaraíz (Colombia)
- InfoCasas (Uruguay & Paraguay)
- Encuentra24.com (Panama and other countries in Central America)
This is in line with Frontier Digital Ventures goal of capitalizing on the growing online classified market, which is poised to hit US$463 billion by 2023.