Ohmyhome, a one-stop-shop property platform based in Singapore, has secured US$5 million in a fresh round of financing from local investor Swettenham Blue.
The capital will be utilised for R&D in data-matching technology, which the company claims will fast-track the closing of property deals on its platform two times faster than its competitors.
“Our core mission is to help our customers transact as hassle-free as possible at the best price,” said Rhonda Wong, CEO of Ohmyhome. “We have stayed true to our mission and we look forward to greater enhancement in our technology to further speed up the pace of transactions.”
Also read: Ohmyhome aims to tackle lack of transparency, unreliable agents issues in Filipino realty market
Started in September 2016 by sisters Rhonda and Race Wong, Ohmyhome connects buyers and sellers directly at no cost. The platform boasts features such as ‘ShoutOut’ and ‘Open House’ to enhance the overall user experience. It operates on a hybrid model — a do-it-yourself (DIY) platform and fully-fledged agency services.
Last year, the platform launched its operation in the Philippines, its third market after Singapore and Malaysia, as the company realises the unmet demand for realty investments arising from the US$2.38 billion remittances of Filipinos working abroad.
Since its founding, more than 5,100 homes have transacted through Ohmyhome which represents a combined value of over SGD1.6 (US$1.2) billion.
In September 2018, Ohmyhome raised US$2.9 million in a Series A round, led by Golden Equator Capital.
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Image credit: Ohmyhome
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