Monk’s Hill leads $2m round of Malaysian proptech firm

Malaysia-based Urbanmetry, an AI-based property data startup, has raised US$2 million in a pre-series A round led by Monk’s Hill Ventures.

Team Urbanmetry /Photo credit: Urbanmetry

Founded by Koh Cha-Ly in 2017, Urbanmetry uses AI and proprietary algorithms to harvest and analyze large amounts of real estate data to gather trends and market intelligence. Its solutions, available to both the public and private sectors, aim to simplify the process of mortgage underwriting. The company has more than 150 corporate clients, including UEM Sunrise, Kuok Group, and RHB Bank.

Urbanmetry also offers an AI-based service called Nowcast to make it easier for homebuyers to get a value projection of their homes. It currently offers its data products in Malaysia, Vietnam, and Japan.

The startup aims to use the fresh capital to accelerate the development and adoption of its mortgage-focused products and platform. It also plans to cover more Southeast Asian cities with its databases.

“The property mortgage industry is typically opaque, with valuations that are often subjective or subject to conflicts of interest. The opportunity to leverage data science in providing a data-driven underpinning to the mortgage process is immense,” saud Kuo-Yi Lim, Monk’s Hill Ventures co-founder and managing partner, in a statement.

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