Divvy Homes, Una Brands co-founders join Thai startup PropertyScout’s US$2.5M pre-Series A round

PropertyScout CEO Mario Peng

PropertyScout, an online marketplace for buying, renting and selling residential properties in Thailand, has raised US$2.5 million (THB 82 million) in a pre-Series A round led by Hustle Fund. 

AngelCentral, Swiss Founders Fund and Asymmetry VC joined the round. Proptech angles, including Simon Baker (former CEO of REA), Marc Stilke (former CEO of Immobilien Scout24), and Brian Ma (founder of San Francisco-based proptech unicorn Divvy Homes), also co-invested.

Ma invested through his Iterative accelerator programme.

Besides, returning individual investors from the seed round also participated. They are Tim Marbach (Asia Venture Group), Jakob Angele (Foodpanda), Ross Veitch (Wego), JJ Chai (Rainforest, ex Carousell, ex- Airbnb), Zenos Schmickrath (ex-HMlet), Kiren Tanna (Una Brands and ex-Rocket Internet), Amarit Charoenphan, and Gokul Rajaram (DoorDash).

Bangkok-headquartered PropertyScout will utilise the capital to enhance its technology platform with artificial intelligence and expand into property sales. It also has plans to double the size of its product and tech team in the coming months.

Co-Founder and CEO Mario Peng said PropertyScout would scale quickly into other Southeast Asian markets once the platform and processes are optimised and validated in Thailand. This will be followed by a Series A funding round.

Also read: The world of proptech and its fate in a post-pandemic world

PropertyScout was founded in 2019 by Peng (who earlier co-founded and sold a Singapore-based online travel platform), Salita Kamnerdsiri (CSO), and Marco Barth (COO). Barth also serves as a startup mentor at Silicon Valley-headquartered early-stage startup accelerator Plug and Play Tech Centre.

The proptech startup aims to build a real-estate platform in Southeast Asia with hassle-free transactions and rentals of homes. The firm says it owns one of the largest portfolios of frequently updated and available rental properties in Bangkok alongside over 300 co-broker partners and in-house property consultants.

Despite the pandemic-induced market setback, it boasts of achieving a 15x growth from Q1 2021.

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Image Credit: PropertyScout

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