Koh Boon Hwee’s Altara Ventures leads US$5m fundraise for Thai proptech

REAL estate transaction platform PropertyScout announced on Friday (Oct 14) that it has raised US$5 million in its Series A round led by Koh Boon Hwee-backed Altara Ventures.

The round was joined by tech investor Partech, as well as returning investors including Hustle Fund, AngelCentral and Asymmetry Ventures.

The funds will allow the company to focus on building its technology platform and prepare for an entry into South-east Asian markets. The proptech platform is also looking to expand its teams across product and software engineering, sales, property management, marketing, and operations.

Founded in 2020, the platform connects property agents, buyers, renters and owners to solve the problem of a fragmented property market plagued by fake and outdated listings. It also digitalises and automates most of its property transactions to render the process more efficient.

“We want to help everyone to buy, sell or rent a home in an easy and trusted way – first in Thailand and then across South-east Asia.” said Mario Peng, chief executive officer and founder of PropertyScout.

Tan Chow Boon, general partner of Altara Ventures, said he was excited to join the startup on its journey to “transform real estate across Thailand and South-east Asia”.