Zubr Capital announces a new investment in Larixon Classifieds, with local developments spanning Cyprus, Mongolia, Tajikistan, Jamaica, Trinidad and Tobago.
As part of its commitment to uplifting up-and-coming IT and tech-related businesses, particularly those with an international-leaning mission, Zubr Capital has recently invested in Larixon Classifieds.
“As a fund investing in the tech industry, we are excited to see how Larixon Classifieds will continue to develop,” said Viktar Dzenisevich, Investment Director and Partner at Zubr Capital.
He added, “Their track record in the online classifieds industry demonstrates the immense need for their services, and the proficiency of their team.”
Furthermore, he mentioned that “this industry has shown remarkable stability, even with resilient valuations in the face of global crises like the pandemic. We’re eager to push for even more success through our strategic partnership.”
Larixon Classifieds is a holding company that owns multiple successful classified platforms across various emerging markets.
Among these platforms are Bazaraki.com (the largest classified in Cyprus), Unegiu.mn in Mongolia, Somon.tj in Tajikistan, Pin.tt in Trinidad & Tobago, as well as JaCars.net, which serves as a leading car classified platform throughout Jamaica.
The international classifieds market is currently experiencing a renaissance moment, with expected total growth likely to exceed $382 billion USD by the end of 2030.
This represents a massive jump in value from the $81 billion USD recorded in 2022. Several key growth factors are driving this increase in demand, including rising internet penetration in new markets, broader mobile device usage, and increased revenues from the development of transactional models.
These factors are contributing to a fresh approach in the utilization of classifieds, providing further opportunities for market growth.
One of the most critical success factors for classifieds is market leadership. It is important for a platform to be the best-known to users among its competitors.
This enables it to become the market leader, attract the maximum number of users, and establish a strong barrier to entry for other players.
Only the No. 1 player in a market has the opportunity to successfully implement a transactional model.
Larixon Classifieds clearly complies with this requirement, as seen with Bazaraki.com in Cyprus. The platform enjoys 46 per cent top-of-mind awareness in the general classified section, 61 per cent in car classifieds, and 64 per cent in mobile classifieds. Its only competitor is Facebook, albeit a distant one.
Moreover, other platforms in the Larixon portfolio show similarly impressive performance metrics.
For instance, Unegui.mn in Mongolia has up to 80 per cent brand awareness, JaCars.net has up to 45 per cent in car classifieds in Jamaica, Pin.tt enjoys up to 27 per cent brand awareness in car classifieds in Trinidad & Tobago, and Somon.tj has no rivals at all in the general classified category in Tajikistan.
The goal of Larixon Classifieds remains unchanged: to maintain its status as the “most visited local website” and “most popular mobile application” in the fast-growing international classifieds market.
By creating such scalable marketplaces, Larixon enriches the value of local economies, allowing people to trade and interact more efficiently.
The Larixon team has already seen the value of Zubr Capital, not only in terms of financial investment but also in business development.
Key priorities include creating a cohesive strategy, setting up financial accounting systems, attracting strategic partners, and structuring the group of companies.
Zubr Capital has already implemented these competencies successfully with other portfolio companies and is now ready to support Larixon in further increasing its business value.
“We are pleased to welcome Zubr Capital to the team,” said Evgeny Ostrovsky, co-founder of Larixon Classifieds.
“With their experience and fresh perspective, we will be able to have an even greater positive impact on our markets, bringing new technologies and opportunities to our countries,” Ostrovsky concluded.
