Prosus to invest $400m in Frontier Car Group.

OLX Group, Prosus’ classifieds business, agreed to invest $400m in Frontier Car Group, an online car marketplace, becoming the company’s largest shareholder. “FCG has nearly tripled performance across every key metric since the first OLX Group investment less than 18 months ago and has expanded to four new countries in that time. This is a testament to FCG’s team, the ripe market opportunity, and the results of early integration with OLX in our key markets. Together with OLX and Prosus, we are aiming to revolutionize the used car market in several emerging and developed economies by adding trust, transparency and a comprehensive suite of services to all participants in the ecosystem”. Sujay Tyle, Frontier Car Group Co-founder and CEO.