FazWaz co-founders Brennan Campbell (left) and Paul Trayman / Photo credit: FazWaz
Lifull Connect, a Spain-headquartered provider of online real estate services, has acquired Southeast Asian proptech player FazWaz for an undisclosed amount.
This will see a new partnership form between FazWaz and Dot Property – a unit under Lifull Connect.
FazWaz, based in Thailand, offers a range of services to property buyers, sellers, and agents. It set up an entity in Dubai last month for its expansion plans into the Middle East.
With FazWaz and Dot Property joining forces, Lifull Connect said it’s strategically positioned to broaden its presence and influence in the Southeast Asian market.
Lifull Connect acquired Dot Property in 2019. At the time, the latter already had operations in Thailand, Vietnam, and the Philippines.
In 2020, Dot Property acquired Hipflat, a Thailand-based property portal.
According to a report from the South China Morning Post, VC funds have been seeking out more investments in Asia Pacific’s proptech landscape, betting on the region’s growth.
Investors expect Asia Pacific to follow in the footsteps of the US and Europe, which have been doubling down on decarbonization tech, the report added.
See also: Ohmyhome IPO raises red flags
Editing by Thu Huong Le and Lorenzo Kyle Subido
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