PropertyGuru raises $300 million from existing backers
SINGAPORE – PropertyGuru Team, the South-east Asia residential or commercial property modern technology firm, has elevated one more $300 million from international financial investment titans TPG Resources and KKR, both of which are existing financiers.
The financing will accelerate PropertyGuru’s growth throughout South-east Asia as it “increases its investment to fulfill the swiftly advancing requirements in the home ecological community”, said the firm in a news releases on Wednesday (Sept 2).
” The additional investments from TPG and KKR will certainly allow us to proceed constructing South-east Asia’s residential or commercial property trust fund platform as well as accelerate our momentum in essential markets like Malaysia and Vietnam,” claimed president as well as handling director Hari V. Krishnan.
” We help home seekers ‘Find.Finance.Own’ their residence and these new investments will certainly accelerate the growth prepares we have determined as even more customers and clients move towards electronic options for residential or commercial property buying and selling,” he added.
The firm ditched plans for an initial public offering in Australia last year, pointing out market volatility. It was planning to elevate as much as A$ 380.2 million (S$ 380.6 million) in the listing.
PropertyGuru included that the investment comes with “a remarkable time”.
It said the company has seen a 24 per cent year-on-year profits development as well as continues to lead in South-east Asia with 57 per cent market share.
Released in 2007, PropertyGuru is based in Singapore as well as additionally operates in Vietnam, Thailand, Malaysia and Indonesia.
Chairman Olivier Lim stated: “We have scaled swiftly throughout South-east Asia by expecting and also dealing with customer needs with a data-driven method, underpinned by a talented group of ‘experts’.
” This year, in the middle of the altering service realities, the verifiable toughness of our platforms has solidified our loved one market leadership and supplies new opportunities to speed up both organic and inorganic development with brand-new financial investments.”
The company plans to broaden PropertyGuru Finance, a home loan industry released this year; PropertyGuru FastKey, an end-to-end sales enablement option for property designers; and enhance its information capabilities to serve house customers across the region.
Among the newer features in PropertyGuru FastKey is what is dubbed the Author, which allows 360-degree walk-throughs of a task, its systems as well as the surrounding cityscape.
This allows home designers to start marketing their projects even prior to the building of the physical sales galleries as well as show flats.