PropertyGuru raises S$300M to rev up growth in SE Asia

PropertyGuru has received an additional investment of S$300 million or about US$220 million in recent funding rounds by long-standing shareholders TPG and KKR, through 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.

“This year, amidst the changing business realities, the demonstrable strength of our platforms has solidified our relative market leadership and provides new opportunities to accelerate both organic and inorganic growth with new investments,” said Olivier Lim, chairman of the board at PropertyGuru.

Hari V. Krishnan, CEO and managing director of PropertyGuru, said the additional investments from TPG and KKR will enable the group to continue building Southeast Asia’s property trust platform and accelerate their momentum in key markets like Malaysia and Vietnam.

This year, PropertyGuru expanded into home finance with the launch of a mortgage marketplace in Singapore — PropertyGuru Finance — as well as a major upgrade to the property seeker experience in Vietnam.

The group enhanced offerings to provide data-driven insights as well as additional sources of income for agent partners. For property developers, significant enhancements were made to PropertyGuru FastKey with the launch of PropertyGuru FastKey – StoryTeller.

This digital product allows 360-degree immersive walkthroughs of a project, its units and the surrounding cityscape, to showcase and explore properties with real-time availability, straight to the screens of property seekers who explore properties from the convenience and safety of homes. This solution enables property developers to start marketing their projects much earlier, even before constructing the sales gallery or show flat.