The Bangkok headquartered real estate marketplace FazWaz has announced a funding round lead by serial investor and Online Marketplaces Chairman Simon Baker via CAV Investment Group. Commenting on the investment, Baker said:
“I have closely followed FazWaz for the last 3 years since they first attended our Property Portal Watch Conferences in 2017. I believe that their mission to use technology to streamline the end-to-end real estate transaction process is the future for real estate sales. Brennan and his team are very well positioned to be a global leader in real estate e-transactions.”
Also participating in the funding round for FazWaz were 500Tuk Tuks, Aries Capital (Indonesian family fund), and Alpha Founders Capital.
Having been launched just under 5 years ago by ex-pat entrepreneurs Paul Trayman, Brennan Campbell and Michael Kenner, the brand has expanded across Southeast Asia with the latest country launch being Cambodia in November. The portal is looking to digitize property transactions in the country and can count some 500,000 visitors per month to its main Thai site having overtaken some big names to rank in the top 3 property portal sites in the country.
The undisclosed amount of capital raised in today's funding round will be used to accelerate brand awareness via a marketing campaign and to invest in data and technology. Co-founder and CEO Brennan Campbell said of the round:
"As a mission-driven business, the funding and expertise brought on in this round of investment moves us closer to our goal of empowering consumers to make more efficient and informed real estate decisions."
Having been bootstrapped for the first four years of its existence, the property marketplace might now be considered to be entering an acceleration phase. The site is one of an increasing number of property marketplaces with an end-to-end model that seeks to bring transactions online with users able to make an offer directly on the platform.