Singapore-based PropTech powerhouse Ohmyhome recently celebrated two years of disrupting norms and recreating the home transaction experience through its one-stop solution for simpler, faster and more affordable housing transactions.
Since its launch in September 2016, Ohmyhome has risen to one of the leading PropTech marketplaces in Singapore.
A testament to its impressive growth, as of September 2018, Ohmyhome claims to have transacted over 2,000 homes which represent a combined value of more than S$850 million, while simultaneously saving consumers at least S$20 million in agent fees and commissions. To date, the Ohmyhome app has more than 200,000 downloads, with 52,000 monthly users and 5,000 active and genuine listings on the portal.
Most recently, the PropTech marketplace secured S$4 million in its Series A funding led by Golden Equator Capital, with an aim to further strengthen its position as the change-maker and market leader in Singapore and expand into Southeast Asia. Ohmyhome also broke new ground by entering the private market through marketing new launches and introduced new features and services such as ShoutOut and Mortgage Advisory, further strengthening the app’s offerings.
Ohmyhome’s continuous and unparalleled growth currently allows for fast and effective ways of buying, selling and renting for more than 22% of the HDB resale market in Singapore. The hybrid PropTech model mirrors the future of property transactions, paving the way for seamless and tech-enabled solutions while being the industry’s first platform that tackles the key steps of a housing transaction under one roof – home search, mortgage and legal.
Rhonda Wong, CEO, and co-founder of Ohmyhome said: “With our hybrid business model, Ohmyhome is situated in a unique position in the PropTech world to radically improve the way of property transactions. The application provides consumers with a DIY solution that’s simple, fast and 100% free. Our fixed-rate agent services enable users to enjoy over 70% of savings in agent commission.
We’re pleased to see how far Ohmyhome has come with the increasing number of housing transactions that we facilitate. As we expand further into Singapore and the region and grow our technology expertise with machine learning and artificial intelligence, consumers can look forward to around the clock, unparalleled housing transaction solution through Ohmyhome. We look forward to extending our high level of speed and service to the entire housing market.”
In the coming months, Ohmyhome has plans to enter the private property resale market and launching a full-fledged suite of services to cater to all housing-related needs, with an aim to be Singapore’s top and one-stop solution for all housing needs. Ohmyhome also intends on expanding into Southeast Asia, as it takes the leap forward in its plan to reshape the global property transaction industry.
Edited by Gordana Davila
Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.