Wednesday, October 28 2020

VietNamNews

PropertyGuru raises US$220m to accelerate growth in Southeast Asia

Update: September, 04/2020 - 17:36

 

The US$220 million funding will accelerate PropertyGuru’s growth strategy across all key markets. — Photo courtesy of the group

HÀ NỘI — PropertyGuru Group, the parent group of Batdongsan.com.vn, the top property site in Vietnam, on Thursday announced it has received an additional investment of S$300 million (US$220 million) in recent funding rounds from global investment firms TPG and KKR.

The funding will accelerate PropertyGuru’s growth strategy as the group ramps up its investment to meet the rapidly evolving needs in the property ecosystem.

The support of TPG over the past five years and KKR over the past two years will see PropertyGuru invest in strategic areas of growth, including its mortgage marketplace launched this year- PropertyGuru Finance, an end-to-end sales enablement solution for property developers- PropertyGuru FastKey and data capabilities to empower property seekers across Southeast Asia to ‘Find.Finance.Own’ their homes.

Olivier Lim, Chairman of the Board, PropertyGuru Group, said: “We have scaled rapidly across Southeast Asia by anticipating and addressing consumer needs with a data-driven strategy underpinned by a talented team of ‘Gurus’.”

Hari V Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group, said: “The additional investments from TPG and KKR will enable us to continue building Southeast Asia’s property trust platform and accelerate our momentum in key markets like Malaysia and Việt Nam.”

This year, PropertyGuru expanded into home finance with the launch of a mortgage marketplace in Singapore, ‘PropertyGuru Finance’, as well as an upgrade to the property seeker experience in Việt Nam.

This investment comes at an extraordinary time for PropertyGuru with 24 per cent year-on-year revenue growth, the firm beat 2019 forecasts and continues to lead in Southeast Asia with 57 per cent market share. — VNS

 

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