PropertyScout Founders
Thailand-based proptech startup PropertyScout has announced the completion of its US$5 million Series A financing led by Altara Ventures.
Partech and many returning investors, including Hustle Fund, AngelCentral, and Asymmetry VC, also participated.
Angel investor Carsten Rahlfs, a partner at Waterland Private Equity, also joined.
PropertyScout will use the funds to scale its core business by doubling down on investments into its technology platform and create an accurate property database for its customers and co-broker partners. It will also look to grow domestically organically and through acquisitions and prepare its entry into additional markets in Southeast Asia.
The startup also plans to boost its current staff of 200 by hiring talent in product and software engineering, sales, property management, marketing, and operations.
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Established in 2020 by Mario Peng, Dr Marco Barth, and Salita Kamnerdsiri, PropertyScout provides an end-to-end real estate platform connecting realtors to buyers, renters, and owners. It currently works with over 1,800 real estate agents and agencies and lists more than 200,000 properties. The firm also digitises and automates 90 per cent of the real estate transaction process, enabling parties to close deals faster.
“The real estate market in Thailand and Southeast Asia is fragmented and plagued by fake and outdated listings.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,” said Peng, Founder and CEO of PropertyScout.
In January 2022, PropertyScout raised US$2.5 million in its pre-Series A round bringing its total funding to US$7.8 million.
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