Bangkok: FazWaz has raised an undisclosed amount of investment in an acceleration funding round led by CAV Investment Group, an investment company for Simon Baker, ex-CEO REA Australia and ex-Chairman of Mitula.
According to the company’s funding announcement, this money will invest in marketing, data, and technology that will ultimately drive FazWaz brand awareness and grow its market share.
FazWaz is a real estate platform that provides brokerage services to make the process of buying, selling, or renting a property easy. The company’s vision is to make buying a property as simple as booking a holiday.
The Bangkok-headquartered startup, launched in 2015, claims to have over 500,000 customers per month and is one of Thailand’s top three property websites. It has also made its mark outside of Southeast Asia, with Cambodia being its latest launch in November this year.
On being asked about how COVID-19 has affected the startup, co-founder Paul Trayman said that the pandemic has been a huge catalyst for pushing forward consumers towards digitization.
He also revealed the company’s plans to launch Thailand’s first instant AVM (automated valuation model) to provide an instant and accurate valuation for a property online within a few seconds.