PropertyScout, a proptech startup based out of Thailand, has secured $5 million in Series A. The round was led by Altara Ventures alongside Partech (that backed Gourmey and Vendease) and many returning investors, including Hustle Fund, AngelCentral, Asymmetry VC, and Dr. Carsten Rahlfs (Partner, Waterland Private Equity).
With this round, the total funding secured by the company accounts for $7.8 million.
Growth and scaleup plans
The funds will allow PropertyScout to scale its core business model in its first market Thailand by doubling down on investments into its technology platform, creating the largest, most updated and accurate property database available to its customers and co-broker partners, growing domestically organically and through acquisitions, and preparing entry into additional markets in Southeast Asia. The company will continue to hire across product and software engineering, sales, property management, marketing, and operations.
“The real-estate market in Thailand and many other markets in Southeast Asia is fragmented and plagued by fake and outdated listings.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. After becoming the largest agency and co-broker platform in Bangkok, we now take the next step to serve all customers and agencies in Thailand through our platform. Customers and agents alike benefit from our technology and streamlined processes, closing deals faster and more reliably than ever before. We want to help everyone to buy, sell or rent a home in an easy and trusted way – first in Thailand and then across Southeast Asia.” said Mario Peng (Founder and CEO, PropertyScout).
Tan Chow Boon, General Partner of Altara Ventures commented: “The outstanding founding team of PropertyScout, consisting of Lita, Marco and Mario, are dedicated to one mission: Making real estate transactions easy, trusted and transparent across Thailand and Southeast Asia. The founders together with their experienced team have grown the company 7-fold over the past year. We are excited to now join and support them on their journey to transform real estate across Thailand and Southeast Asia.”
End-to-end real-estate transaction platform
Founded in 2020 by Mario Peng, Dr. Marco Barth and Salita Kamnerdsiri, PropertyScout, is an end-to-end real estate transaction platform. It connects over 1,800 agents and agencies with buyers, renters and owners, servicing thousands of satisfied customers every month.
PropertyScout leverages its database of over 200,000 properties, its technology platform and its centralised operations to digitise and automate 90% of the real estate transaction. This frees up agents’ time to professionally and efficiently communicate with buyers, renters, owners and co-agents to deliver outstanding service and close transactions faster.
Providing a transparent and trusted experience, PropertyScout has quickly become the favorite go-to-place for buying, selling, and renting real-estate in Thailand, as proven by hundreds of five-star reviews.
