Thai end-to-end rental service provider and real-estate platform, PropertyScout, announced the closing of its series A funding round, procuring up to US$5 million in investments led primarily by Altara Ventures.
Thailand-based PropTech firm, PropertyScout, has disrupted the marketplace with its end-to-end real estate platform, closing the gap in on home rental and ownership for new-time buyers, leaseholders, and landlords. In its recent series A funding round, PropertyScout procured US$5 million in capital, bringing its total raised so far to US$ 7.8 million.
The funding round was led primarily by Altara Ventures, with participation from Partech, along with other returning investors including Hustle Fund, AngelCentral, and Asymmetry VC.
PropertyScout will allocate the capital raised to accelerate its market scale and business model development within its primary industry focus in Thailand. In addition, the funds will allow the PropTech startup to double investments in its proprietary technology platform, and further build on its initiatives to develop the most advanced, secure, and accurate property database available to its customers and realtor partners.
By refining its business model and through various acquisitions, PropertyScout hopes to facilitate its domestic growth organically, while laying the necessary groundwork to support its future market expansion into Southeast Asia. Moreover, the company continues to open up recruitment opportunities, hiring new talent specialising in product and software engineering, sales and marketing, property management, and operations.
Established in Thailand in 2020 by Mario Peng, Dr. Marco Barth, and Salita Kamnerdsiri, PropertyScout is an end-to-end real estate transaction platform that has a well-connected network of 1,800 agents, buyers, renters, and homeowners, leveraging its strong database of over 200,000 property listings. The platform has emerged as a highly sought after marketplace nationwide for professional realtors, alongside new homeowners and buyers.
The firm claimed that its digitised platform has a commendable success rate in the real estate transaction process, as it accelerates these proceedings through its highly-automated channel, saving brokers and buyers time and additional costs.
Mario Peng, the Founder and CEO of PropertyScout, commented, “The real estate market in Thailand and many other markets in Southeast Asia is fragmented and plagued by fake and outdated listings.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. 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 year, PropertyScout raised US$2.5 million in funding, and has since registered 15x revenue growth in the past 18 months.
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