Vietnam proptech startup banks $1.3m in bridge round

Citics, a Vietnam-based online real estate platform, said it raised US$1.3 million in its newest round of funding.

More funding details

• Lead investor: Vietnam Investments Group
• Returning investor: Vuples Investment Management
• Other investor: BHS Group
• Stage: Series A bridge round

More company updates

• The new funding follows Citic’s expansion to cover 25 provinces and cities in Vietnam this year.
• The startup also signed eight new agreements with banks, bringing the total number of cooperative banks it has onboarded to seventeen. These include banks such as Vietnam International Bank, Ho Chi Minh City Development Joint Stock Commercial Bank, Sacombank, and Shinhan Bank.
• Citics said it will funnel the new capital into developing its current business. It will also invest in tech to serve its partners better and develop new products.
• In March, Citics had raised US$1 million in a pre-series A round from Vulpes Investment Management, Nextrans, and TheVentures.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.