Vietnamese PropTech Startup Homebase Secures 7-Figure Pre-Series A Funding

December 15, 2020
Share this Post: 

The Vietnamese home financing solutions company Homebase has secured a reported "seven-figure US Dollar" sum in a pre-series A round. Participating in the investment round were local VC fund VinaCapital Ventures, Silicon Valley-based venture funds Class 5 Global and Pegasus Technology Ventures as well as Singapore-based 1982 Ventures, and Antler.

Homebase's business model addresses the burgeoning aspirational Vietnamese middle-class, members of which are increasingly having difficulty saving for property down-payments in a market where the prices have been rising steadily for some years. The startup uses technology to offer customised financing solutions for users to build equity and purchase their homes.

The investment is another example of venture capital flowing into PropTech companies in South East Asia and follows an impressive financing round for fellow Vietnamese PropTech company Propzy in August. According to e-Conomy SEA 2020, a report multi-year report collaborated on by Google, Temasek and Bain & Company, the region has experienced:

"a permanent and massive digital adoption spurt, with more than 1 in 3 digital services consumer (36% of total) being new to the service, of which 90% intend to continue their newfound habits post-pandemic."

With VC firms such as PropertyGuru backers Square Peg raising a fresh war-chest fund of some $1.4bn and an increase in digital adoption in the region, we can expect more stories of investment in Southeast Asia to come along sooner rather than later.

 

December 15, 2020
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Schibsted
Tinius Trust to Sell Shares in Schibsted Marketplaces, Opening Door to Takeover Bids

The Tinius Trust, through its holding company Blommenholm Industrier, is preparing to sell nearly a third of its remaining shares...

Read More
Rightmove Not Listening 1
Another Rightmove Boycott as Proptech Bemoans "Unjustified" Fee Hikes

A British startup has launched a petition against Rightmove for what it calls "unjustified" fee hikes amid allegations of "arrogant"...

Read More
Shutterstock 751956331 2
News Corp CEO Robert Thomson on CoStar and Domain: "We Have The Advantage"

News Corp CEO Robert Thomson says the media giant will have a competitive advantage if CoStar Group completes its acquisition...

Read More
Shutterstock 2245599643 3
Zillow Says It's Shooting for $5 Billion Revenue and 45% EBITDA Margins

The American portal operator Zillow Group is setting ambitious financial targets and doubling down on market expansion as outlined at...

Read More

Editor's Pick