PropertyScout Raises $5M In Series A Funding Round

PropertyScout has raised $5m in a funding round led by Altara Ventures as the company scales its core business in Thailand.

PropertyScout says it will use the funds to invest in its technology platform to strengthen its position in the Thai market as it prepares to expand into Southeast Asia. The company will also invest in its workforce with plans to expand several teams including product, sales, property management and operations.

The company had previously raised $2.5m in a pre-Series A round earlier this year, with a total of just under $10m invested in the company since its foundation in 2019.

Mario Peng, CEO at PropertyScout, said:

"The real-estate market in Thailand and many other markets in Southeast Asia is fragmented and plagued by fake and outdated listings. PropertyScout has successfully built a technology platform and scalable processes to solve this problem.

"After becoming the largest agency and co-broker platform in Bangkok, we now take the next step to serve all customers and agencies in Thailand through our platform. Customers and agents alike benefit from our technology and streamlined processes, closing deals faster and more reliably than ever before.

"We want to help everyone to buy, sell or rent a home in an easy and trusted way - first in Thailand and then across Southeast Asia."

PropertyScout operates an end-to-end rel estate transaction platform that connects over 1800 agents and agencies with buyers, renters and owners. The portal has a database of over 200,000 properties and has digitised and automated 90% of the real estate transaction in local markets. Its website generated roughly 1m unique views every month.

PropertyScout has had a busy year, with the acquisition of two Bangkok-based agencies in February.

Online Marketplaces interviewed PropertyScout CEO Mario Peng in 2021. Read it in full here.