Thai proptech firm raises $5m round led by Altara Ventures

Thailand-based PropertyScout, a real-estate platform, has raised US$5 million in a series A fundraise led by Altara Ventures.

PropertyScout founder and CEO Mario Peng / Photo credit: PropertyScout

The round, which brought the startup’s total funding to US$7.8 million, saw participation from investment platform Partech as well as returning investors such as Hustle Fund, AngelCentral, and Asymmetry VC. Angel investor Carsten Rahlfs – a partner at Waterland Private Equity – also joined in.

Founded in 2020, PropertyScout provides an end-to-end real estate platform that connects realtors to buyers, renters, and owners. It currently works with over 1,800 real estate agents and agencies and lists some 200,000 properties.

According to the firm, its platform also digitizes and automates around 90% of the real estate transaction process, enabling parties to close deals faster.

PropertyScout will use the new capital to upgrade its platform, seek acquisitions, and grow its presence in Thailand ahead of its entry into other Southeast Asian markets.

The startup also plans to boost its current staff of 200, aiming to hire talent in product and software engineering, sales, property management, marketing, and operations.

Mario Peng, founder and CEO at PropertyScout, said the firm aims to address the fragmentation of the region’s real estate sector and solve the issues of fake and outdated listings.

In January 2022, PropertyScout raised US$2.5 million in its pre-series A round, riding on claims that it registered 15x revenue growth in the previous 18 months.

See also: Why property tech is Vietnam’s next must-watch sector