99 Group Quietly Raises Extra $11 Million Extension to Series C Round

March 15, 2023
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The Singapore-based real estate portal operator, 99 Group, has secured an additional $11 million U.S. in funding for its Series C round. The money reportedly came from the Hong Kong-based private equity firm Gaw Capital Partners, who led the previous round, and OCBC NISP Ventura.

99 Group operates the leading real estate marketplaces in Indonesia (99.co and rumah123.com) as well as portals in its native Singapore (99.co, iProperty.com.sg and SRX) and is the main competitor to PropertyGuru in those markets.

With this latest funding, 99 Group has raised over $100 million U.S. to date. The company plans to utilize the investment to promote innovation and expand its presence in existing South East Asian markets, as well as explore opportunities to enter new markets in the region.

In July 2022, 99 Group announced that it had raised $52 million U.S. in its Series C funding, after pulling out of merger talks with fellow Southeast Asian marketplace operator Carousell.

March 15, 2023
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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