Thai proptech startup PropertyScout has secured $5 million in Series A funding. The round was funded by Altara Ventures along with Partech (backing Gourmey and Vendease) and a number of returning investors including Hustle Fund, AngelCentral, Asymmetry VC and Dr. Carsten Rahlfs (Partner, Waterland Private Equity).
With this round of financing, the company has a total funding of $7.8 million.
Growth And Scaleup Plans
The business will expand its core operation by investing in a property database that provides the largest, most up-to-date information. It will also acquire new properties and grow organically through partnerships in other Southeast Asian markets. Additionally, PropertyScout plans to hire staff across software engineering, sales, property management, marketing and operations.
PropertyScout’s technology allows them to integrate every listing into a single platform. This helps them identify fake and outdated listings, which causes the Asian real-estate market to be fractured and unorganized. As a result of their platform, they were able to become the largest agency and broker in Bangkok. Consequently, all agencies and customers in Thailand can now use their platform. Everyone can buy, sell or rent a home through PropertyScout with a trusted and reliable method. This is thanks to our tech and streamlined processes that help clients close deals faster and more reliably than ever before. Our goal is to provide this service across Southeast Asia, first in Thailand and then elsewhere. This was stated by the company’s CEO and founder, Mario Peng.
PropertyScout’s founding team of Lita, Marco and Mario are dedicated to making real estate transactions transparent, easy, and trusted across Southeast Asia. They’ve grown the company 7 times over in one year thanks to their experienced team, which is why Tan Chow Boon, General Partner of Altara Ventures is excited to support them on their journey.
End-To-End Real-Estate Transaction Platform
PropertyScout was founded in 2020 by Mario Peng, Salita Kamnerdsiri and Dr. Marco Barth. The company is an end-to-end real estate transaction platform that connects over 1,800 agents and agencies with buyers, renters and owners. Since its creation, PropertyScout has served thousands of satisfied customers every month.
PropertyScout boasts a database of over 200,000 properties to digitize and automate 90% of real estate transactions. Leveraging their technological platform and centralized operations, they can free up agents’ time to professionally communicate with buyers, renters, owners and co-agents. This frees up time to deliver outstanding service and close transactions faster.
PropertyScout provides a trusted and transparent experience thanks to hundreds of five-star reviews. As a result, the site quickly became Thailand’s preferred place to buy, sell, and rent real estate.
