Having secured an additional $220 million in funding, the homegrown property portal said it hopes to provide further innovations to digitize the property sector.
Singapore property portal PropertyGuru has received an additional investment of S$300 million ($220 million) in recent funding rounds by existing investors TPG and KKR, which will be used to accelerate its growth strategy across key markets.
The firm has enjoyed strong business momentum and financial performance across multiple key markets over the past year, with 24 percent year-on-year growth.
«Our strong financial performance over the last few years has enabled us to invest aggressively and smartly, to build what is today an integrated and differentiated technology platform that caters to the unique opportunities in Southeast Asian markets,» Hari V. Krishnan, CEO and Managing Director, PropertyGuru Group, said.
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The announcement noted changing consumer habits and preferences as a result of the Covid-19 pandemic, and said it wants to meet the rapidly evolving needs in the property ecosystem and provide more digital solutions for property buying and selling.
Founded in 2007, the portal has a 57-percent market share in Southeast Asia where it is also a market leader in five countries: Singapore, Vietnam, Malaysia, Thailand and Indonesia, serving a total of 24.5 million property seekers per month.
The company recently announced that it would be expanding into home finance with the launch of mortgage marketplace PropertyGuru Finance, which offers instant in-principle approval, instant offers, and refinance checks for property buyers.
