PropertyGuru gets US$220m funding to accelerate SEA growth

by BERNAMA/ pic by BLOOMBERG

PROPERTYGURU Group, Southeast Asia’s (SEA) leading property technology (proptech) company, has received an additional investment of US$220 million (US$1=RM4.15) in recent funding rounds by leading global investment firms, TPG and KKR, via KKR Asian Fund III.

In a statement, it said the group achieved a 24 per cent year-on-year (y-o-y) revenue growth and has continued to lead in SEA with a 57 per cent market share.

PropertyGuru is present in Singapore, Malaysia, Vietnam, Thailand and Indonesia.

It said that the funding will accelerate PropertyGuru’s growth strategy across all key markets as the group ramps up its investment to meet the rapidly evolving needs in the property ecosystem.

“The continued support from TPG (over the past five years) and KKR (over the past two years) will see PropertyGuru further invest in identified strategic areas of growth.

“This includes PropertyGuru Finance, a mortgage marketplace launched this year; PropertyGuru FastKey, an end-to-end sales enablement solution for property developers; and data capabilities to empower property seekers across SEA to find, finance and own their homes,” it said.