FazWaz has raised an undisclosed amount of investment in an acceleration funding round led by CAV Investment Group, an investment company for Simon Baker, ex-CEO REA Australia and ex-Chairman of Mitula.
Other investors include 500 Tuk Tuks, Aries Capital (Indonesian family fund), and Alpha Founders Capital. The startup has been 100 per cent bootstrapped in the first four years of its operations.
According to the company’s funding announcement, this money will go towards investing in marketing, data and technology that ultimately will drive FazWaz brand awareness and grow its market share.
FazWaz is a real estate platform which provides brokerage services to make the process of buying, selling, or renting a property easy. The company’s vision is to make buying a property as simple as booking a holiday.
Also Read: PropertyGuru further expands footprint in Malaysia with the acquisition of MyProperty Data
“We live in an on-demand, digital-first society where users want efficient access to products and services at the click of a button. The real estate industry is no different and users are demanding a better online search and offline service experience. As a mission-driven business, the funding and expertise brought on in this round of investment move us closer to our goal of empowering consumers to make more efficient and informed real estate decisions,” Brennan Campbell, founder of FazWaz, commented.
The Bangkok-headquartered startup which launched in 2015 claims to have over 500,000 customers per month and is one of Thailand’s top three property websites. It has also made its mark outside of Southeast Asia, with Cambodia being its latest launch in November this year.
“Thailand’s proptech scene is seeing an exciting amount of activity with two well-known major M&A deals in 2020, one being for Kaidee and another being Hipflat. At the same time, a large amount of investment pours into startups tackling the fragmented real estate market. FazWaz re-envision the real estate sales process with technology. We are excited to back FazWaz as they now enter into the next significant phase of growth,” Johannes von Rohr, General Partner at Alpha Founders Capital said.
On being asked about how COVID-19 has affected the startup, co-founder Paul Trayman said that the pandemic has been a huge catalyst in terms of pushing forward consumers towards digitisation.
He also revealed the company’s plans to launch Thailand’s first instant AVM (automated valuation model) that will provide an instant and accurate valuation for a property online within a few seconds.
Image Credit: FazWaz
The post Proptech startup FazWaz raises funding to globalise real estate e-transactions appeared first on e27.