Property portal 99.co raises US$11 million in Series C extension

PROPERTY portal 99.co has raised US$11 million in an extension of its Series C fundraising round co-led by existing investor Gaw Capital Partners and OCBC NISP Ventura, the venture capital arm of Jakarta-based Bank OCBC NISP, of which OCBC bank owns more than 85 per cent of its shares.

OCBC NISP Ventura said on Wednesday (Mar 15) that this additional round of investment will support the 99 Group in continuing its growth and expansion through strategic partnerships and acquisitions.

In this extension, Gaw Capital Partners provided US$10 million in funding, while OCBC NISP Ventura contributed US$1 million.

In its initial Series C round in July last year, Gaw Capital Partners led the fundraising of US$52 million, with US$37 million completed at the first close and another US$15 million to be raised over the next few months.