GEC-KIP Fund injects $2.3M into Viet proptech firm Rever

Recently announced, the GEC-KIP Technology and Innovation fund has invested $2.3 million into Vietnmaese proptech platform, Rever.

The S$120 million GEC-KIP Fund was jointly launched in 2018 by Golden Equator Capital (GEC), a Singapore-based fund management firm, and Korea Investment Partners (KIP), a Seoul-headquartered venture capital and private equity firm.

Rever meanwhile, was founded in 2016 by Manh Phan, the former Marketing Director of Vietnamese messaging and social platform Zalo. Rever works exclusively with real estate agents to provide more tailored and transparent services to help clients find homes for living and investment. 

It also works with real estate developers in Vietnam such as Keppel Land and KhangDien, and recently supported the sales of new high-profile projects such as Empire City and Diamond Island.

Rever also runs experience centers which allow clients to meet agents handling all requests and inquiries on the platform's services and properties with technical tools.

With the new funding, Rever will look to deepen its presence in Vietnam with plans to open 30 additional large experience centers in the next 18 months for client servicing. It will also start expanding beyond Ho Chi Minh City to Hanoi and other coastal cities.

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