PROPERTYGURU Group, Southeast Asia’s leading property technology company, today announced that it has received an additional investment of S$300 million (RM916 mil) in recent funding rounds by leading global investment firms TPG and KKR (via KKR Asian Fund III).
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 of TPG over the past five years and KKR over the past two years will see PropertyGuru further invest in identified strategic areas of growth, including its mortgage marketplace launched this year- PropertyGuru Finance, an end-to-end sales enablement solution for property developers- PropertyGuru FastKey and data capabilities to empower property seekers across Southeast Asia to ‘Find.Finance.Own’ their homes.
The group said it posted 24% year-on-year (y-o-y) revenue growth that beats its 2019 forecasts and continues to lead in Southeast Asia with 57% market share.
Being the PropTech leader across five markets in the region namely Singapore, Malaysia, Vietnam, Thailand, and Indonesia, it has been enjoying a very strong business momentum and financial performance across multiple key markets over the past year.
According to the group’s board chairman Oliver Lim, the demonstrable strength of PropertyGuru’s platforms has solidified its relative market leadership and provided new opportunities to accelerate both organic and inorganic growth with new investments, this year, amidst the changing business realities.
“Since its founding in 2007, PropertyGuru has secured its leadership by continuing to provide increasing value to all its customers and users. We have scaled rapidly across Southeast Asia by anticipating and addressing consumer needs with a data-driven strategy underpinned by a talented team of ‘Gurus’.
“This increased support from TPG and KKR to accelerate growth is a great validation of the Group’s successful performance, its leadership team and their strategy to unlock the opportunities that will achieve the Group’s ambitions in the region,” Lim added.
Meanwhile, PropertyGuru group chief executive officer and managing director, Hari V. Krishnan said, “Our strong financial performance over the last few years has enabled us to invest aggressively and smartly, to build what is today an integrated and differentiated technology platform that caters to the unique opportunities in Southeast Asian markets.
“The additional investments from TPG and KKR will enable us to continue building Southeast Asia’s property trust platform, and accelerate our momentum in key markets like Malaysia and Vietnam. We help property seekers ‘Find.Finance.Own’ their home and these new investments will accelerate the growth plans we have identified as more consumers and customers move towards digital solutions for property buying and selling.” – Sept 2, 2020
