12 Proptech Companies in Asia You Should Knowby Fintechnews Singapore July 25, 2018
Proptech, a term that refers to the use of technology as a solution to challenges in the real estate sector, has witnessed rapid adoption around the world, but most particularly in Asia Pacific (APAC).
According to a report by JLL released in April, 179 proptech startups in APAC raised US$4.8 billion of the US$7.8 billion invested globally from 2013 to 2017 and these flows can only increase to match the growing demand for property in APAC.
Across the region, China and India are the two most dynamic markets for proptech but other regions, including Southeast Asia, Northeast Asia, and Australasia, are catching up rapidly.
The following 12 companies are amongst the most notable proptech companies in Asia:
Qfang – China
Based in Shenzhen and Hong Kong, Qfang is an online property listing platform. Qfang, which was founded in 2000, has quickly become the largest residential real estate agency in China by number of agents and branches.
Qfang has 12 subsidiaries and 19 branch offices all over China and annual sales of over CNY 220 billion and 22 million service brokers. It was acquired by asphalt manufacturer Hubei Guochuang Hi-tech Material for US$54 million in early 2017.
iProperty.com – Malaysia
iProperty.com.my is the consumer brand and a subsidiary of REA Group Asia in Malaysia and Malaysia’s No.1 property website for all things property. The online portal focuses on the sale and rent of real estate properties in the country and features classifieds on apartments, condominiums, bungalows, semi-detached houses, terrace and link houses, townhouses, service residences, penthouses, and offices.
iProperty.com Malaysia is operated from Kuala Lumpur, Malaysia.
Common Ground – Malaysia
Common Ground is Malaysia’s largest leading co-working space catering to corporate clients, SMEs, startups and freelancers. Since the company’s market launch in 2017, it has opened seven venues across the Klang Valley with an average occupancy of 80%. The company entered the Philippines property market earlier this year.
Common Ground raised its US$20 million Series A funding round earlier this year.
Anjuke – China
Founded in 2007 and based in Shanghai, Anjuke operates an online platform for buying, selling, and renting properties. The platform serves as a marketing network for developers, intermediaries, brokers and owners of second-hand properties.
Anjuke has subsidiaries in 31 cities and over 1,500 employees. The number of unique visitors to websites provided by the company exceeds 66 million per month. Since March 2015, Anjuke operates as a subsidiary of 58.com Inc, one of the largest classifieds websites in China.
Mofang Gongyu – China
Based in Shanghai, Mofang Gongyu is one of the largest institutional rental apartment companies in China with projects across all tier one cities and select tier two cities across the country. The company rents its apartments to white collar, college educated residents with an attractive average monthly income and also provides value-added services to them. Mofang currently operates 80 apartments in major Chinese cities such as Beijing, Shanghai, Guangzhou, and Shenzhen.
Mofang Gongyu has raised US$500 million in disclosed funding so far, according to Crunchbase.
FangDD – China
Based in Shenzhen, FangDD is an O2O real estate platform that facilitates transactions between property sellers and home buyers through real estate brokers. FangDD works on a “pay-for-performance” business model instead of charging fees for every listing like other domestic online estate services.
Currently, FangDD is in cooperation with over 100,000+ brokers, has offices in more than 30 cities and employs around 2,500 people. The company has raised US$312.1 million in disclosed funding so far, according to Crunchbase.
Lianjia – China
Lianjia offers real estate brokerage services. It operates an online based real estate services platform which covers secondary residential property transactions, new property transactions, leasing and decorating services. Headquartered in Beijing with additional branch offices in Beijing, Shanghai, Guangzhou, and Shenzhen, Lianjia began operations in November, 2001.
Lianjia has raised CNY 7 billion (US$1 billion) in disclosed funding so far, according to Crunchbase.
PropertyGuru Group – Singapore
Launched in 2007, PropertyGuru Group is a leading online property company in Asia, attracting over 25 million property seekers to find their dream home, every month. The platform provides property seekers with the widest option of more than 2 million homes, in-depth insights and solutions that enable them to make confident property decision across Singapore, Malaysia, Thailand, Indonesia and Vietnam.
PropertyGuru Group has raised S$240 million (US$175 million) in disclosed funding so far, according to Crunchbase,
Revolution Precrafted – Philippines
Philippine-based developer Revolution Precrafted is a unicorn startup that provides prefabricated properties around the world, including homes and pavilions. The project unites over 70 of the world’s preeminent architects, artists and designers to create an exclusive series of prefabricated, livable spaces. Revolution Precrafted has bagged contracts worth over US$7 billion in different international markets.
HomeLane – India
HomeLane is an end to end, vertically integrated interior design and manufacturing provider that has delivered more than 1,000 projects across India. HomeLane offers personalized design services to customers at no extra cost and has an experienced panel of interior designers that works with clients to customize designs for their houses.
HomeLane has raised US$68 million in disclosed funding so far, according to Crunchbase.
EV Hive – Indonesia
Founded in 2015, EV Hive is a community-driven workspace offering knowledge sharing and community building. Through events and workshops by its network of entrepreneurs and tech communities, EV Hive helps local startups grow their businesses. EV Hive also provides private offices, meeting rooms, and event spaces to support day-to-day business activities.
EV Hive has raised US$24.3 million in disclosed funding so far, according to Crunchbase.
Campfire Collaborative Spaces – Hong Kong
Campfire Collaborative Spaces is an industry-focused co-working startup of Hong Kong. The workspaces are designed to provide tools and services for members to grow are conceptualized as places where like-minded entrepreneurs can gather to share their experiences and work together.
Campfire Collaborative Spaces has raised US$24 million in disclosed funding so far, according to Crunchbase.
Featured image via pexels.com