PropertyScout raises US$ 5m Series A from Altara and Partech
PropertyScout announced a US$ 5 million Series A round led by Altara Ventures, joined by Partech and returning investors. In September 2019, Alpha Founders Capital had led the Pre-Seed round of the company.
The funds allow PropertyScout to scale its core business model in its first market Thailand 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. The 200 staff company will continue to hire across product and software engineering, sales, property management, marketing, and operations.
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, servicing thousands of satisfied customers every month. PropertyScout leverages its database of more than 200,000 properties, its technology platform and its centralized operations to digitize and automate 90% of the real estate transaction. 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. Providing a transparent and trusted experience, PropertyScout has quickly become the favorite go-to-place for buying, selling, and renting real-estate in Thailand, as proven by hundreds of five-star reviews.
“The real-estate market in Thailand and many other markets in Southeast Asia is fragmented and plagued by fake and outdated listings.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.” said Mario Peng (Founder and CEO, PropertyScout).
Tan Chow Boon, General Partner of Altara Ventures commented: “The outstanding founding team of PropertyScout, consisting of Lita, Marco and Mario, are dedicated to one mission: Making real estate transactions easy, trusted and transparent across Thailand and Southeast Asia. The founders together with their experienced team have grown the company 7-fold over the past year. We are excited to now join and support them on their journey to transform real estate across Thailand and Southeast Asia.”
PropertyScout is the leading Thailand-based end-to-end real-estate transaction platform offering one of the largest selections of residential properties for rent and sale. Founded in 2020 by a team of experienced entrepreneurs and industry experts, PropertyScout’s tremendous growth is driven by a seasoned sales team, data-driven marketing and proprietary technology.
About Altara Ventures
Altara Ventures is a Singapore based VC fund investing in early-stage tech startups across Southeast Asia. The USD 130m fund is led by Koh Boon Hwee, former chairman of Singapore Airlines, DBS Group, and Singapore Telecommunications.
About Alpha Founders Capital
Alpha Founders Capital (AFC) is a venture capital firm with focus on Indochina, particularly Thailand and Vietnam. We typically invest into late seed rounds. With our network of Venture Partners we identify and evaluate high growth early stage companies sector agnostic. We add value by working with the founding teams, coaching them on key topics, providing them with access to our network. Portfolio companies include Rabbit Care, Chilindo, Property Scout, Nutrition Technologies, Sirius, Konvy and APX. Learn more on our website. Follow us on LinkedIn.