Frontier Digital Ventures (FDV) a Malaysia-based online marketplace operator has announced it has raised US$67 million from a group of undisclosed institutional investors via share placement.
The fresh capital infusion will be invested in the acquisition of three companies which operates in online; Fincaraiz in Colombia, Avito in Morocco and Tayara in Tunisia.
After the successfully acquisition of these three businesses, Frontier Digital Ventures (FDV)’s portfolio will comprise of in 15 online marketplace businesses active in 20 markets across Latin America, Africa and Asia.
Founded by Patrick Grove and Shaun Di Gregori the company is focused online marketplaces with a particular focus on property and automotive verticals and general marketplace websites. FDV provides both financing and mentorship for entrepreneurs in emerging markets.
“It has been great to build a global business from Malaysia, with primarily Malaysian leadership. In many instances, we were one of the first internet investors in some of these markets, such as Pakistan and Myanmar. These latest acquisitions see FDV evolve into becoming a leading operator ofemerging market marketplaces,” said Shaun Di Gregorio CEO and Co-founder.