The Bangkok-based PropTech company PropertyScout has today announced that it has secured a pre-Series A financing round of $2.5 million which will allow it to expand its operations and improve its tech stack.
Founded in 2019 by Mario Peng, Salita Kamnerdsiri and former Scout24 VP of Strategy Marco Barth, PropertyScout is effectively an end-to-end concierge service for consumers looking to rent or buy in Thailand, similar to Nomad Homes in The UAE. PropertyScout claims to have seen 15x growth since Q1 of 2021 and is sanguine about its prospects for 2022 and beyond.
The company employs around 50 of its own agents and works with some 300 partner agents and is free for users, instead charging landlords a commission for finding the best tenants.
Participating in PropertyScout's latest round were existing investors such as OnlineMarketplaces' own Simon Baker, former Scout24 CEO Marc Stilke and Divvy Homes founder Brian Ma as well as institutional investors AngelCentral, Swiss Founders Fund and Asymmetry VC. The round was led by California-based Southeast Asian specialist VC firm Hustle Fund.
Exciting times lie ahead for PropertyScout according to CEO Mario Peng, who suggested that 2022 could see the PropTech startup extend operations beyond Thailand's borders.
“We plan to use the funding to further enhance our proprietary technology platform and expand into property sales. Once the platform and processes are optimized and validated in Thailand, we will scale quickly into other Southeast Asian markets,”
Read our interview with PropertyScout co-founder and CEO, Mario Peng from May 2021 here.