Gabriel Budi Sutrisno · · 1 min readMalaysian proptech firm bolsters local presence with merger
Housing development in Seri Tanjung Pinang / Photo credit: Shutterstock
LiveIn, a proptech firm headquartered in Malaysia, has acquired local firm KT Management, solidifying its foothold in the country’s accommodation rental market.
Both companies provide long-stay rental homes, specifically to young people in Malaysia, with KT Management operating in the northern region. LiveIn is also available in Thailand.
With the merger, KT Management’s tenants, which number in the thousands, will benefit from LiveIn’s flexible community-living solutions and online-to-offline experience, according to a statement.
Keek Wen Khai, co-founder and CEO of LiveIn, said the company is “aggressively pursuing acquisition opportunities” in Malaysia and around the region.
LiveIn pivoted from a marketplace for property owners to a long-stay rental solutions provider in 2018. It said it has raised US$4.5 million so far from investors such as Jungle Ventures and Wavemaker Partners.
“The market conditions in Southeast Asia are perfect for LiveIn with its young people population, massive numbers of young professionals moving to the cities, and the huge property overhang,” Khai added.
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Editing by Miguel Cordon and Jaclyn Tiu
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