Real estate website PropertyScout, located in Thailand, has secured $5 million in a series A round of funding headed by Altara Ventures.
Partech, an investing platform, as well as returning investors Hustle Fund, AngelCentral, and Asymmetry VC took part in the round, bringing the startup’s total capital to US $7.8 million. Carsten Rahlfs, a partner at Waterland Private Equity and an angel investor, also participated.
PropertyScout, a 2020 startup that offers an end-to-end real estate platform, links realtors with consumers, tenants, and property owners. It presently collaborates with more than 1,800 real estate firms and brokers and features more than 200,000 properties.
According to the company, the technology also digitizes and automates around 90% of the real estate transaction process, allowing parties to finalize agreements more quickly.
In order to improve its platform, look for acquisitions, and expand its position in Thailand before entering other Southeast Asian countries, PropertyScout will use the fresh funding.
The business also intends to expand its 200-person workforce, looking to add expertise in the fields of sales, property management, marketing, and operations, as well as product and software engineering.
PropertyScout’s founder and CEO, Mario Peng, stated that the company seeks to address the fragmentation of the local real estate market as well as address the problems of false and out-of-date listings.
PropertyScout reportedly reported a 15x increase in income over the preceding 18 months when it secured US$2.5 million in its pre-series A financing in January 2022.
