Thai-based PropertyScout, a proptech business, has raised $5 million in Series A funding from Altara Ventures, Partech (that backed Gourmey and Vendease), and other previous backers, including Hustle Fund, AngelCentral, Asymmetry VC, and Dr. Carsten Rahlfs (Partner, Waterland Private Equity).
With this round, the company has now received $7.8 million in investment.
The money will enable PropertyScout to scale its core business model in its first market Thailand by increasing investments in its technological infrastructure, building the largest, most up-to-date, and accurate property database accessible to its clients and co-broker partners, expanding domestically organically and through acquisitions, and getting ready to enter new Southeast Asian markets. The business will keep hiring in sales, property management, software engineering, marketing, and operations.
“The Thai real estate market, like many others in Southeast Asia, is fragmented and rife with obsolete and false listings. To address this issue, PropertyScout has developed a technology platform and scalable procedures. We now take the next step to service all clients and agencies in Thailand through our platform after becoming the leading agency and co-broker platform in Bangkok “Founder and CEO of PropertyScout, Mario Peng, remarked.
“Our technology and optimized procedures benefit customers and agents, enabling faster and more reliable deal closing than ever before. We aim to make it simple and reliable for everyone to purchase, sell, or rent a home, starting in Thailand and expanding throughout Southeast Asia, Mario continued.
“The great founding team of PropertyScout, consisting of Lita, Marco, and Mario, are dedicated to one mission: Making real estate transactions simple, dependable, and transparent throughout Thailand and Southeast Asia,” said Tan Chow Boon, GP of Altara Ventures.”
Tan went on “The company has increased sevenfold over the past year thanks to the founders and their skilled workforce. On their mission to improve real estate in Thailand and Southeast Asia, we are thrilled to officially join and help them.
PropertyScout is a full-service platform for conducting real estate transactions, and it was founded in 2020 by Mario Peng, Dr. Marco Barth, and Salita Kamnerdsiri. Every month, it serves thousands of pleased consumers by bringing together over 1,800 brokers and agencies with buyers, renters, and owners.
90% of real estate transactions are now digital and automated thanks to PropertyScout, which makes use of its database of more than 200,000 properties, technological platform, and centralized operations. Providing exceptional service and hastening the closing of transactions, frees up agents’ time to connect with purchasers, tenants, owners, and co-agents professionally and effectively.
PropertyScout has swiftly established itself as the preferred destination for buying, selling, and renting real estate in Thailand as evidenced by hundreds of five-star ratings.
Image Credit: PropertyScout