Zubr Capital invests in Bazaraki.com

09:54 - 04 October 2024

Companies Reporter

The company behind Bazaraki.com classified ads website, Larixon Classifieds which is also the Cyprus-based operator of several local marketplaces in Europe, Asia and the Caribbean, has received investment from Zubr Capital, a private equity firm focused on Central and Eastern Europe.

The size of the investment has not been disclosed.

Zubr Capital operates a business advisory office in Limassol while Larixon Classifieds is a holding company that owns classified platforms in emerging markets, among them Bazaraki.com, the largest classified in Cyprus.

The company also holds Unegiu.mn in Mongolia, Somon.tj in Tajikistan, Pin.tt in Trinidad & Tobago, and JaCars.net in Jamaica.

According to Larixon Classifieds, it strives to maintain the status of the ‘most visited local website’ and ‘most popular mobile application’ in the fast-growing international classifieds market.

In 2023, the company reported 40% revenue growth, 57.8% EBITDA growth, and 22.7% profit margin.

Larixon Classifieds’ track record in the industry demonstrates the immense need for it’s services and the proficiency of its team, said Viktar Dzenisevich, investment director and Partner at Zubr Capital, as quoted by Fastforward which was the first to publish the news. “We’re eager to push for even more success through our strategic partnership,” Dzenisevich said.

Last September, Zubr Capital raised $1.1 million U.S. in pre-seed funding for the Cyprus-based startup Placy, a developer of an AI assistant for real estate transactions.

Zubr Capital invests in Bazaraki.com

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