Una Brands co-founder backs 🇹🇭 proptech startup’s $2.5m round

PropertyScout, a Thailand-based proptech startup, has raised a total of US$2.5 million closing their pre-series A round.

Team PropertyScout / Photo credit: PropertyScout

Hustle Fund, an early-stage venture capital player based in the US, led the investment round. AngelCentral, Swiss Founders Fund, and Asymmetry VC also joined the cap table.

“We plan to use the funding to further enhance our proprietary technology platform and expand into property sales. Once the platform and processes are optimized and validated in Thailand, we will scale quickly into other Southeast Asian market,” said Mario Peng, CEO and founder of PropertyScout.

Founded in 2019, the startup aims to reduce the risks associated with renting, buying, and selling homes.

Currently, over 300 co-broker partners and in-house property consultants are using the PropertyScout platform, which streamlines repetitive processes and provides tools and insights for potential buyers, tenants, and owners.

It claims to have registered 15x revenue growth in the past 18 months.

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

The company is planning a series A funding round to further expand geographically.

Other investors in the round include:

• Iterative Capital
• Simon Baker, former CEO of REA Group
• Marc Stilke, former CEO of ImmobilienScout24
• Brian Ma, founder of Divvy Homes (via his accelerator Iterative Capital)
• Tim Marbach, founder and CEO of Asia Venture Group
• Jakob Angele, Foodpanda’s CEO in Asia Pacific
• Ross Veitch, CEO and co-founder of Wego
• JJ Chai, CEO and co-founder of Rainforest
• Zenos Schmickrat, board member of SEA founders
• Kiren Tanna, CEO and co-founder of Una Brands
• Gokul Rajaram, DoorDash executive
• Amarit Charoenphan