AQWIRE Raises Funding to Expand its Product Offerings and More

November 26, 2020
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In a move to expand its product offerings and enter new markets within Southeast Asia, AQWIRE has successfully raised US$2.1 million in a Series A funding round, led by Spiral Ventures. 

The proptech company had actually raised more but declined the extra amount over concerns on further dilution. However, the company is expecting another US$2 million in venture loans. 

Ray Refundo, CEO and Founder of AQWIRE, explained:

“We decided to raise less equity as the company has been profitable since 2019, generating US$1.7 million in revenue.”

He also explained that the company is expecting to end 2020 with a 50% increase in annual revenue with plans to triple that in 2021. 

AQWIRE is a Philippino proptech company that focuses on mortgage loans and cross-border property management. Launched in 2018, it already has an impressive network of foreign property investors, 12 million of which are overseas Filipinos. 

November 26, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

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