Funding and Investment Roundup: Scout24, Idealista, OneDome, PropertyGuru, Lamudi

This week's funding and investment roundup starts in Germany:

Europe: Scout24 acquires new-build property marketplace NeuBau Kompass

Scout24, the operator behind Germany’s leading real estate marketplace Immobilienscout24.de has acquired the new-build marketplace NeuBau Kompass for an undisclosed sum.

Scout24's press release stated:

By integrating neubau kompass’ products into the ImmoScout24 ecosystem, agents and property developers benefit from direct access to potential buyers, compelling presentation, and specialisation in newly built properties. neubau kompass’ customers will further profit from ImmoScout24's reach, brand, and innovative power.

Tobias Hartmann, CEO at Scout24, said:

"neubau kompass is serving a growing customer base in this increasingly important market. We very much look forward to bringing their product portfolio and customer experience to the ImmoScout24 ecosystem.

"By acquiring neubau kompass we are doubling down on the very important market for new residential properties. Germany needs to invest into housing, and together we will continue to actively push for this development to happen."

neubau kompass AG is a digital marketing platform for newly built residential real estate and property development projects in Germany.

Idealista Acquires Kyero

Idealista has agreed to acquire the UK-based second homes marketplace Kyero for an undisclosed sum.

Kyero will retain its operational independence and continue to partner with key real estate software providers and operators in its active markets. Kyero’s founders will continue to lead Kyero following the close of the acquisition and will join idealista’s management team.

This is idealista's seventeenth acquisition in the last sixteen years and is part of the company's inorganic growth strategy.

Jesús Encinar, founder and CEO of idealista, said:

"I am very pleased that Kyero, Louise and Martin, its founders, and their great team are part of idealista. I am sure that the future with both companies working together will improve results, user experience and new business opportunities for all our clients."

Asia: Competition watchdog approves PropertyGuru-Hedychium merger

Singapore’s competition watchdog has approved the acquisition of PropertyGuru by Hedychium Group.

Hedychium Group is indirectly owned by BPEA Private Equity Fund VIII, a fund advised by the nominal acquirer EQT.

The competition watchdog, the Competition and Consumer Commission of Singapore (CCCS) said the merger would not substantially lessen competition in the Singapore market, citing the absence of overlapping goods or services between the two parties.

Glazer Capital acquires 1.4% stake in PropertyGuru

Meanwhile, New York City-based hedge fund Glazer Capital has paid $15.6 million to acquire a 1.43% stake in Singapore-based marketplace operator PropertyGuru.

PropertyGuru is currently under a privatisation takeover bid by EQT worth more than $1 billion.

Lamudi Indonesia acquires fintech aggregator Ideal

Lamudi Indonesia has acquired Ideal, a fintech aggregator for mortgage products in Indonesia.

The acquisition was executed through a debt-to-equity conversion—Lamudi is now the majority shareholder of Ideal.

United Kingdom: OneDome acquires mortgage broker service Coreco Group

OneDome continues its acquisition trail with the purchase of Coreco Group for an undisclosed sum.

Coreco Group directors Julian Ingall and Andrew Montlake will join OneDome’s management team and remain in their roles at Coreco.

OneDome operates an end-to-end homebuying solution, including a real estate portal, mortgage advice, application, conveyancing, and even a project manager for home moves.

The firm has been an active acquirer of businesses this year, including the purchases of payroll provider Caroola in October and mortgage advisory firm Albany Park in November.

Babek Ismayil, CEO and founder at OneDome, said:

"Bringing Coreco into the OneDome family is transformative for our vision of seamless property transactions.

"With the OneDome family now consisting of 170 members, including over 70 advisers, we are transforming homebuying for good."