PropertyGuru Group, Southeast Asia’ property technology firm, announced that it has received an additional investment of S$300 million (US$220.59 million) in recent funding rounds by leading global investment firms TPG and KKR - Photo by the Company

JAKARTA (TheInsiderStories) – PropertyGuru Group, Southeast Asia’ property technology firm, announced that it has received an additional investment of S$300 million (US$220.59 million) in recent funding rounds by leading global investment firms TPG and KKR (via KKR Asian Fund III). Both are long-standing shareholders of the group and have invested in the provider for the past five and two years respectively.

“This increased support from TPG and KKR to accelerate growth is a great validation of the Groups successful performance, its leadership team and their strategy to unlock the opportunities that will achieve the Group’ ambitions in the region,” said Olivier Lim, chairman of the company in official statement released on Thursday (09/03).

Currently, PropertyGuru not only become market leader in Singapore, but also in Indonesia, Malaysia, Vietnam, and Thailand as well, boasting a 57 percent market share in the region. The company run PropertyGuru in Singapore and Malaysia, Batdongsan.com.vn in Vietnam, DDproperty.com in Thailand, also Rumah.com and RumahDijual.com in Indonesia.

Over the past year, the Group delivered a 24 percent year-on-year revenue growth, beating initial 2019 forecasts. This is their fourth consecutive year of high growth amid tough real estate markets.

Lim said, the funding will accelerate PropertyGuru’ 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  and KKR will see PropertyGuru further invest in identified strategic areas of growth, including its mortgage marketplace launched this year, PropertyGuru Finance

Also, 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.  He added,“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’.”

The Group’ platform become a preferred destination for 24.5 million property seekers to find their dream home every month. The provider empower property seekers with the widest option of more than 2.7 million homes, in-depth insights and solutions that enable them to make confident decision across Singapore, Malaysia, Thailand, Indonesia and Vietnam.

The platform was launched in 2007 and revolutionized the Singapore property market by taking it online and made property search transparent for the property seeker. While, several TPG investment portfolios in Asia, namely PT Bank Tabungan Pensiunan Nasional Tbk (IDX: BPTN), Lenovo, Dodla Dairy, and PT BFI Finance Indonesia Tbk (IDX: BFIN). TPG was previously known as the Texas Pacific Group.

Its partner, KKR‘ investment portfolio in Indonesia is in GoJek, which started in 2016, and PT Nippon Indosari Corpindo Tbk (IDX: ROTI), a bread producer with the Sari Roti brand that is part of the Salim Group. Investment in Sari Roti began in 2017. KKR or formerly known as Kohlberg Kravis Roberts had invested in PT Tiga Pilar Sejahtera Food Tbk (IDX: AISA) and PT Japfa Comfeed Indonesia Tbk (IDX: JPFA).

US$1: S$1.36

Written by Editorial Staff, Email: theinsiderstories@gmail.com