THANK YOU FOR SUBSCRIBING
PropertyScout will use the new capital to upgrade its platform, seek acquisitions, and grow its presence in Thailand.
FREMONT, CA: PropertyScout, a proptech business based in Thailand, has announced the closing of its USD 5 million Series A funding, which Altara Ventures organised. In addition to Hustle Fund, AngelCentral, and Asymmetry VC, Partech and other previous investors also took part.
Carsten Rahlfs, a partner at Waterland Private Equity and an angel investor, also joined. By increasing its investments in its technological platform, PropertyScout will use the cash to develop its core business and build an accurate property database for its clients and co-broker partners. It will also plan for entry into new Southeast Asian markets and seek to grow domestically organically and through acquisitions.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
The business also intends to increase its 200-person workforce by adding qualified individuals in sales, property management, marketing, operations, and software and product engineering. PropertyScout, founded in 2020 by Mario Peng, Dr Marco Barth, and Salita Kamnerdsiri, offers a full-service real estate platform that links agents with homebuyers, tenants, and owners. More than 200,000 properties are currently listed, and it collaborates with more than 1,800 real estate firms. Additionally, the company digitalizes and automates 90 per cent of the real estate transaction process, allowing parties to finalise deals more quickly.
Thailand's and Southeast Asia's real estate markets are disjointed and rife with phoney and out-of-date listings. To address this issue, PropertyScout has developed a technology platform and scalable procedures, Peng, the CEO and founder of PropertyScout, remarked. PropertyScout received USD 2.5 million in pre-Series A fundraising in January 2022, increasing the company's total funding to USD 7.8 million.
During the two-day event, Echelon 2022 seeks to offer close-knit and targeted talks on important subjects as well as business matching services to encourage business-driven interactions.
More in News