Thai real estate portal, ZmyHome has raised $400,000 in seed funding. The money came from KK Fund, a Singapore-based venture capital firm to improve the technology platform and expand ZmyHome's user base in Thailand.
The portal has grown 18% per month since its launch two years ago. It has completed more than 10,000 sales or rent listings in its lifetime, according to Natthapon Asswisessiwakul, the Founder and CEO of ZmyHome.
“We invested in ZmyHome because it is an improving real estate platform,” Founder and general partner of KK Fund, Koichi Saito said. “In all developed countries, a reliable platform is necessary to increase market liquidity. In countries like Australia, USA or UK, homeowners take only 1-3 months on average to sell their houses. That’s why ZmyHome is dedicated to making sure their platform is clean; it does not have duplicate, outdated or faked listings – this is of paramount importance for buyers to study supply and prices.”
ZmyHome's platform allows only property developers and homeowners to post their properties so that buyers can get the best prices. It supports both developers and homeowners to sell more quickly by offering advertising tools and market data directly to those looking to buy.
This latest funding will help the company expand the platform to cover other types of users, like banks and foreign owners. ZmyHome also plans to create a price suggestion system with the money. This will be an advertising tool to help sellers sell their property within three months.
Join us in Bangkok from the 28th of February to the 1st of March for the 22nd Property Portal Watch Conference. The theme for this year is The Future of Online Real Estate Marketing – Getting Closer to the Transaction.