PropertyScout, a PropTech startup based in Thailand, has raised $5m in Series A funding to expand its footprint in Thailand.
The round was led by by Altara Ventures and brings PropertyScout’s total funding to $7.8m. The round was also joined by Partech and many returning investors, among them Hustle Fund, AngelCentral, Asymmetry VC, and Dr. Carsten Rahlfs (partner, Waterland Private Equity).
Founded in 2020 by Mario Peng (CEO), Dr. Marco Barth (COO) and Salita Kamnerdsiri (CSO), PropertyScout is an end-to-end real estate transaction platform connecting over 1,800 agents and agencies with buyers, renters and owners.
PropertyScout leverages its database of more than 200,000 properties, its technology platform and its centralised operations to digitise and automate 90% of the real estate transaction.
The company explained this frees up agents’ time to professionally and efficiently communicate with buyers, renters, owners and co-agents to deliver outstanding service and close transactions faster.
PropertyScout said the capital will allow it to scale its core business model in its first market Thailand.
The company plans to do this by doubling down on investments into its technology platform, creating the largest, most updated and accurate property database available to its customers and co-broker partners, growing domestically organically and through acquisitions, and preparing entry into additional markets in Southeast Asia.
PropertyScout said it will also continue to hire across product and software engineering, sales, property management, marketing, and operations.
Mario Peng, founder and CEO, PropertyScout, said, “The real-estate market in Thailand and many other markets in Southeast Asia is fragmented and plagued by fake and outdated listings. PropertyScout has successfully built a technology platform and scalable processes to solve this problem. After becoming the largest agency and co-broker platform in Bangkok, we now take the next step to serve all customers and agencies in Thailand through our platform.
“Customers and agents alike benefit from our technology and streamlined processes, closing deals faster and more reliably than ever before. We want to help everyone to buy, sell or rent a home in an easy and trusted way – first in Thailand and then across Southeast Asia.”
Earlier this month, Australian PropTech platform PropHero closed its oversubscribed seed round on AUD 8m ($5m).
Copyright © 2022 FinTech Global