KUALA LUMPUR: ProppyApp, a property-all-in-one portal, has raised over RM10 million in funding within the first year of its incorporation to expand into the Southeast Asian market.
Chief marketing and communications officer Evan Ngow said the company expects to raise a further RM25 million in their upcoming private placement round.
“The funding will be utilised to achieve expansion across Southeast Asia in 2022, targeting Singapore, Indonesia, Thailand, Vietnam, and the Philippines,” he said in a statement today.
The company has a current valuation of RM100 million.
Meanwhile, Ngow said ProppyApp has launched the latest version of their app with four innovative features to enhance consumer and business experience on the platform.
The omni-app (multifunction app) enables consumers to easily connect with service providers, merchants, traders, and repairmen while offering these businesses a convenient and secure platform to promote, sell, let or list their properties and services to the local and global market.
“Our goal is to help property owners manage their properties efficiently and effectively in order
to make better investment decisions.
“At the same time, we provide innovative tools and services for small and medium businesses to promote, sell or let their properties and services,” he said.
Moving forward, he said the company is focussing on product development and improvement as well as building capability in a talented team to support growth aspirations within the country and the region. – Bernama