PropertyScout, a Thai online marketplace for buying, renting, and selling residential properties, has secured $2.5 million in a pre-Series A investment headed by Hustle Fund.
The round was joined by AngelCentral, Swiss Founders Fund, and Asymmetry VC. Simon Baker (former CEO of REA), Marc Stilke (former CEO of Immobilien Scout24), and Brian Ma (creator of Divvy Homes, a San Francisco-based proptech unicorn) were among the proptech investors.
Ma put money into the Iterative accelerator programme.
Individual investors who had previously invested in the seed round also took part. Tim Marbach (Asia Venture Group), Jakob Angele (Foodpanda), Ross Veitch (Wego), JJ Chai (Rainforest, ex-Carousell, ex-Airbnb), Zenos Schmickrath (ex-HMlet), Kiren Tanna (Una Brands and ex-Rocket Internet), Amarit Charoenphan, and Gokul Rajaram are among the entrepreneurs (DoorDash).
PropertyScout, based in Bangkok, will use the funds to improve its technological platform using artificial intelligence and expand into property sales. In the next months, it also intends to expand the size of its product and technology team.
PropertyScout will swiftly expand into other Southeast Asian regions, according to co-founder and CEO Mario Peng, once the platform and procedures have been optimized and proven in Thailand. Following that, a Series A investment round will be held.
