PropertyGuru, an online real estate marketplace, has secured SGD $200m ($145m) in its Series D from KKR.
The private equity giant tapped Asian Fund III to complete the deal and further its strategy of backing high-growth markets which will benefit from technology adoption. The vehicle closed on $9.3bn last year, with a focus on companies across the Asia Pacific.
Singapore-based PropertyGuru is an online property marketplace helping consumers to buy and rent a range of property types across the country. The platform also enables users to purchase property in a number of other countries including Australia, Cambodia, Cyprus, Germany, India, Indonesia, Japan, Malaysia, Mongolia, Philippines, Sri Lanka, Thailand, UAE, UK and Vietnam
Following this investment, PropertyGuru will look to further its investments into technology and build solutions to further aid home seekers, real estate agents and property developers.
Earlier in the year, the company released a â€˜brand refreshâ€™ which included reworked websites and mobile app, which are all supported by AI.
KKR member and head of Southeast Asia Ashish Shastry said, â€œWe are thrilled to be investing in PropertyGuru, one of the most exciting tech-enabled businesses in Southeast Asia.
â€œWith rapid online migration well underway across many industries, the PropertyGuru team, led by Hari V. Krishnan, has clearly established itself as the Southeast Asian champion in the online property space.â€
KKR joins PropertyGuruâ€™s existing investor base which includes TPG, Emtek and Square Peg Capital.
Alongside the new batch of capital, PropertyGuru has revealed the full consolidation of Vietnam-based Batdongsan, an online marketplace for land.
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