LatAm’s Navent Takes In Another $20M For Its Regional Online Classifieds Empire

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Navent, a Latin American real estate and jobs classifieds company which last raised funding back in November 2012, has closed a $20 million Series C round of funding from global technology private equity firm Riverwood Capital. Navent’s focus is online real estate and jobs classifieds.

As with its last tranche of financing, Navent said the new funding will be used to accelerating growth of its key regional properties — including its flagship jobs site Bumeran, along with Brazil’s Imovelweb, Mexico’s Inmuebles24, Peru’s AdondeVivir and Ecuador’s Plusvalia.

It’s also eyeing up expansion into additional “new and untapped” markets in LatAm. Its current regional footprint covers eight markets: Brazil, Mexico, Argentina, Chile, Peru, Venezuela, Panama and Ecuador.

Technology investments fueled by the Series C round will focus primarily on mobile — which the company said already accounts for a third of its traffic.

Navent’s sites collectively pull in more than 30 million monthly users, while its primary property, Bumeran, gets around six million monthly uniques.

Commenting on the funding in a statement, Riverwood Capital founding partner Francisco Alvarez Demalde said: “During the past two years, Navent has accelerated its growth and consolidated its leadership position in Latin America in both on line real estate and jobs. We are very enthusiastic about the future of the company as millions of users across the region use our properties to buy or sell a home or look for a job.”