Miguel Cordon · · 1 min readMyanmar proptech startup Shwe Property bags $3m in series B round
Myanmar-based property portal Shwe Property raised US$3 million in a series B round led by Singapore private equity fund manager Emerging Markets Investment Advisors.
The Shwe Property team / Photo credit: Shwe Property
The family office of Galaxy Media and Entertainment Vietnam chairwoman Dinh Thi Hoa, iProperty and Mitula Group ex-chairman Simon Baker, and 500 Startups also participated in the round, alongside existing investors Vostok New Ventures and a UK-based investment fund.
The investment in Shwe Property marks 500 Startups’ first foray into the Myanmar market, according to a statement.
Founded in 2011, Shwe Property connects buyers, renters, and sellers through its platform, which it claims has over 100,000 active listings.
With the funding, the startup plans to “accelerate all areas of our business operations, sales and marketing, product development,” including its transaction model that aims to simplify the home buying process, said Kevin Goos, managing director of Shwe Property.
In 2015, the company received a “significant” six-digit US dollar investment from its CEO, Justin Sway, to further grow in the country.
Editing by Charmaine de Lazo
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