estie CEO Ei Hirai
Japanese proptech startup estie has closed a JPY 2.8 billion (approximately US$20 million) Series B round of investment led by Vertex Growth, a growth-stage VC fund anchored by Vertex Holdings, a subsidiary of Temasek, and Development Bank of Japan (DBJ).
Existing investors Globis Capital Partners, University of Tokyo Edge Capital Partners, and Global Brain also participated.
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estie will use the money to accelerate its multi-product strategy, facilitate strategic M&As, and recruit top talents. The proptech venture also plans to expand its presence in Southeast Asia, starting with Singapore.
Japan boasts one of the world’s largest real estate markets, anchored by Tokyo (the city with the largest real estate asset value). Japan ranks third in the international commercial real estate market after the US and China.
Despite the large asset pool, Japan’s access to global capital is limited by data availability that foreign investors are accustomed to elsewhere.
According to JLL’s Global Real Estate Transparency Index 2024, Japan ranks thirty-first when it comes to market fundamentals data availability, quality, depth and transparency.
Founded in 2018, estie provides real estate developers, institutional investors, and others with services that facilitate industry transactions. By solving the data distribution challenges faced by the commercial through digitalisation, the real-estate industry solves a series of business issues by providing multiple interoperable services simultaneously.
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Tam Hock Chuan, General Partner at Vertex Growth, said: “What Bloomberg has achieved for the financial industry, we believe estie is doing for the Japanese real estate sector.”
“Despite the volatility in the SaaS industry, estie, has consistently delivered high growth rates, best-in-class efficiency metrics, and outstanding customer satisfaction scores. Given its success in Japan, we are confident this business model can be adapted to various markets across Southeast Asia.”
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