Brief: Portal for real estate agents raises $300k to expand beyond Thailand

Photo credit: Swaminathan.

Thailand-based FindYourSpace is a tech platform for real estate agents, helping them list their properties online and increase their business by partnering with property marketplaces. It started out as a consumer-facing property portal but decided to focus on agents when it “identified pain points” in their everyday work. Agents can also use the platform to connect and collaborate.

This is its first external investment – it has been self-funded since its February 2015 launch, with the exception of a US$30,000 investment from 7Peaks Software, a company owned by FindYourSpace CEO Jostein Aksnes and two other partners at the startup’s incorporation.

Competitors: Property Base, Boomtown ROI

How it compares to competitors: The startup sees itself as a complement to property portals like PropertyGuru, making and providing tools for real estate agents to publish and manage their listings across a number of online platforms. In Thailand, it’s working with Hipflat and DD Property (PropertyGuru’s local entity).

Traction

Around 200 real estate agents use the platform actively on a monthly basis. FindYourSpace has 35,000 property listings, with agents adding more than 900 new ones every month. It has been generating revenue since February 2016 but does not disclose more details.

Funding details

Amount raised: US$300,000
Funding stage: Seed
Lead investor: REAPRA
Other investors: N/A
Investment type: Equity
Purpose: Expand to other markets in Southeast Asia, grow the business in Thailand with additional research and development, and sales and marketing push
Total disclosed funding to date: US$330,000

Update, 3:40pm SGT: Details about FindYourSpace have been corrected.