How PropTech companies are revolutionizing the real estate market in the APAC region.
PropTech startups have made navigating the real estate market easier, cheaper and more transparent. They have simplified the buying, selling, leasing and renting process for both real estate agents and their clients. The Asia-Pacific (APAC) region has proved to be a prime location for the development of such companies. Here’s a list of the top five fastest-growing PropTech companies in the APAC region.
Founded in 2009, the South Korea-based company launched its data-driven platform to help startups find their most well-suited office space. It has since spread out to serve small and medium enterprises and larger corporations. RSquare streamlines the process for tenants to compare multiple properties at once and find the best one. With its platform, tenants would no longer encounter inaccurate listing information and complex paperwork that are typical of the traditional real estate industry.
In November 2021, the PropTech company raised US$72 million in a Series C round from a single backer, STIC Investments. The new assets would be used to accelerate its commercial building transaction and to increase employee headcount.
Founded in 2016, Ohmyhome is a PropTech company based in Singapore that runs a 24/7 property transaction platform in the Asian market. It is also famous for its DIY model, which lets users buy, sell, lease and rent properties at their own pace and time for free. They are revolutionizing property transactions by simplifying and improving the user experience for clients, from home buyers to sellers and from landlords to tenants. The platform provides listings for houses, apartments and condos as well as a service that connects tenants with home loan and renovation services.
In August 2021, Ohmyhome raised US$5 million in a Series A+ funding round. The fresh capital will be used to enhance the company’s data-matching technology across its Singapore, Malaysia and Philippine markets.
Singapore’s Spaceship provides a unique physical storage service that is re-defining the traditional warehouse and storage system for people and companies. The startup service is tailored for your every need and crafted for a “hassle-free and affordable experience.” People who are undergoing home renovation and need storage for their furniture and personal belongings, startups that need space for work, order fulfilment deliveries, offices that require space to store documents with pickups and deliveries and even social media influencers who need a private workspace and a photo studio with lighting equipment all have use for Spaceship.
More than 10 thousand customers are using Spaceship’s storage, warehouses and work spaces in multiple different ways.
Since 2014, the Australian company has been helping banks value properties more efficiently with a customizable digital platform, which automates the entire mortgage valuation process. Through its unique cloud-based technology, Valocity allows lenders to make data-driven decisions and streamline the property valuation process for lending and insurance. The company has already connected the valuers, brokers and lenders in New Zealand, Australia, India and Singapore, transforming the world of valuation and mortgage lending.
In August 2020, Valocity partnered with La Trobe Financing, allowing the lender to access its custom-built “Commercial Property Valuation Platform” which automates workflow functionality with bank-grade data security protocols and collaborative innovation.
Vietnam-based company Rever is a digital property brokerage portal innovating the local property scene since 2016. Users can easily search or list a property online and connect with a Rever expert offline to visit and evaluate properties in person. All listings are vetted, while interactions between agents, buyers and sellers are recorded. Transaction data also helps to limit fraud cases. Rever has also launched an academy to train up the next generation of tech-savvy real estate agents by offering courses on essential selling techniques, ranging from negotiation techniques in real estate to language for sales.
As of August 2021, the company had raised US$16.5 million in total.
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