ShweProperty.com, Myanmar’s top property portal, recently announced they have successfully secured USD 3 Million in Series B.
Emerging Markets Investment Advisers (EMIA) spearheaded the round, along with 500 StartUps; Simon Baker (Chairman of the CAV Investment Group and former CEO of the REA Group); the family office of Dinh Thi Hoa, (Chairwoman Galaxy Media & Entertainment Vietnam) and existing investors Vostok New Ventures (Nasdaq Stockholm) and a UK-based Investment fund also participating in the round. The in-depth transaction financial and legal due diligence was undertaken by Deloitte.
Simon Baker said, “I am very impressed with how Justin Sway and the team have built Shwe Property into the leading online property marketplace in Myanmar. They have done so by building a market-leading portal and embracing new and innovative business models. In particular they are building a world class internet driven property transaction business. We are very happy to be investing in the market leader in Myanmar.”
Singapore-based Emerging Market Investments Advisers (EMIA) is a private equity fund with a portfolio of 13 businesses across a range of sectors and offices in Cambodia, Myanmar, and Singapore.
Trent Eddy, Chief Investment Officer for EMIA, stated “We are excited to be investing in the #1 Online Property Portal in Myanmar. We were impressed by one of the strongest management teams in IT technology we’ve seen, and their great strength in online real estate portals is reflected in their market leadership and high-quality shareholder base. We look forward to working with the Shwe Property team to further support and accelerate their business.”
Vostok New Ventures, is a successful publicly listed company on the Nasdaq Stockholm, with investments in online classifieds in emerging markets throughout the world. With a net asset value of USD 697M and a track record of successful investments in #1 Online Classifieds leaders, including PropertyFinder.ae (#1 property portal in UAE, MENA) and big exits such as Avito (Russia’s leading online classifieds portal) CEO of Vostok, Per Brilioth commented “Shwe Property has seen impressive growth since our initial investment and we are very pleased with their clear market leadership in the Myanmar Property market. We always try to find market leaders throughout the world and our continued support and commitment to Shwe Property is a testament to their strong performance and outlook.”
The announcement also marks 500 Startups’ first foray into the Myanmar market. 500 Startups, CEO, Natavudh Pungcharoenpong “We are ecstatic to be investing in Shwe Property as our first entry into Myanmar; they are a reputable group with extraordinary growth and a strong leadership team, we are excited to play a part in their journey.”
Shwe Property’s other shareholders include Justin Sway (former FastTrack – #1 Recruitment Software in Australia, NZ), Jonah Levey (former Vietnam Works #1 Job Site), Gilles Blanchard (ex. Seloger.com #1 Property portal in France and Chairman Zameen.com in Pakistan), Kevin Goos (former Century 21 Cambodia CEO), and Kaung Thu Win (Founder and Director). It’s a combination of both private and institutional investors, including the most successful online classifieds and property portal entrepreneurs and investors in the world. The star-studded line up of shareholders is a testament to Shwe Property’s achievements in the market and commitment to its continued success and transformation of the Myanmar Property Sector.
Shwe Property is led on the ground in Myanmar by experienced CEO and Myanmar born – Justin Sway, MD – Kevin Goos (ex. CEO Century 21 Cambodia) and Founder and Director – Kaung Thu Win Shwe Property was the first property portal established in Myanmar, founded in 2011. The company has achieved significant name brand penetration among consumers, agents, and property developers. Shwe Property has the highest quality traffic, views, and leads than any other property website in Myanmar.
The site connects property buyers, renters, and sellers, with over 100,000+ active listings and the company, works with all top property developers and real estate agents across the nation. This combined with transparent and auditable business practices have resulted in extraordinary traction and growth, which can be hard to find in frontier markets.
“We have seen amazing growth year on year, built a strong management team and developed a very loyal client base across the entire nation who recognize Shwe Property as the #1 property portal in Myanmar and a clear market leader. The latest round of funding will be used to accelerate all areas of our business operations, sales and marketing, product development, and includes our advanced transaction model that streamlines the home buying process for consumers. Our leadership team remains 100% committed and focused on the future growth of Shwe Property.” Kevin Goos, MD of Shwe Property.
Shwe Property CEO, Justin Sway commented on the new round of investment. “We are very delighted to welcome EMIA, 500 Startups, Dinh Thi Hoa, and Simon Baker to the Shwe Property family and it's great seeing our existing investors, Vostok New Ventures and a UK Based fund also participating in the round. It’s a real testament to support our clear market leadership and phenomenal traction in the country. This combined with our strong shareholder base and leadership team, will further cement our ability to lead, support and shape the Myanmar real estate industry.”
SOURCE Shwe Property
Edited by Gordana Davila
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