Ohmyhome closes Series A on SGD $4m to support Southeast Asia expansion

Singapore-based PropTech platform Ohmyhome has closed its Series A on SGD $4m ($2.9m).

Venture investor Golden Equator Capital, which is also based in Singapore, led the investment round. Other backers to the round included previous backer K3 Ventures, and a number of unnamed individual investors and family offices.

The company provides a platform to make housing transactions simpler, faster and cheaper, through P2P transactions, fixed-rate agent services and on-demand mortgage and legal support. The mobile app gives landlords and sellers the ability to list the property, directly communicate with potential buyers or renters and complete transactions.

Tenants and buyers are able to search through the app for available properties and communicate with their owners. Alongside this, they have access to an in-app calculator to identify how much they can afford, sales proceeds and explore bank rates.

Ohmyhome has supported more than 2,000 transactions which have a combined value of over SGD $850M ($621m).

This equity injection will be used to grow the company presence in Singapore and move into other Southeast Asia markets. The company is looking to expand into Malaysia and Thailand.

Ohmyhome COO and co-founder Race Wong said, ?As other industries embraced innovation, we saw a gap in the real estate market where transactions are carried out in a traditional manner.

?The lack of expertise, information, and quality services opened opportunities for us to increase efficiency, save costs and execute transactions more easily. That was why we founded Ohmyhome to create a one-stop solution to make housing transactions simpler, faster, and affordable for all homeowners and home seekers.p>

Copyright ? 2018 FinTech Global

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