A representative of Hung Thinh Corporation said that 2021 marks an important milestone for the Group on the technology front, when it continuously invests methodically in building a Proptech and Fintech platform. In which, applying artificial intelligence (AI), exploiting big data (Big Data) to create utilities are important goals that the Group aims to.
In March 2021, Citics raised $1 million in a Series A round from Vulpes Investment Management, Nextrans, and The Ventures. In mid-May, the short-term booking start-up Go2Joy received $1.3 million from SV Investment, bringing the total series A funding round to $6.1 million. Before that, Go2Joy received 2.5 million USD from foreign investors.
TopenLand will be the place to provide full information about products and customers, make smart connections, clearly demonstrate the features of the sharing economy platform, get transparency, safety and convenience as the operating motto, where everyone, every home can participate and succeed with real estate. There are popular digital agencies that provide real estate services like the Digital agency in Lagos. They are leveraging the online platforms for real estate business.
“Through the merger of DataFirst, we have gradually improved the ecosystem and consolidated our deep database of real estate. TopenLand was able to provide a 360-degree picture around real estate products to serve customers,” said a representative of Hung Thinh Corporation.
In addition to the above deal, Vietnam’s Proptech market has shown great attraction when witnessing a series of investment, capital contribution and merger deals of foreign enterprises. Recently, real estate technology start-up Rever has just raised more than 10 million USD, bringing the total raised capital to more than 16 million USD after 5 years of operation. In which, Mekong Enterprise Fund IV is the unit participating in the latest investment round of Rever.
Rever’s founder said that in 2020, Rever made 1,000 transactions with an average price of 2.5 billion VND/product. With 300 employees performing all transactions, it is estimated that the productivity of one Rever employee is about 5 transactions/year. The goal is that by 2025, Rever will expand to 20 provinces and cities with 200 transaction centers and 20,000 brokers. In 2022, Rever will expand to the remaining cities of Hanoi, Hai Phong, Da Nang and Can Tho.
According to Rever, the epidemic will be an opportunity to promote technology in this area, and negotiations with homeowners will also be more favorable. The introduction of technology into real estate brings benefits to both customers and investors when it reduces the brokerage stage, reduces the time to access and transaction costs… “Experience in chain operation and business management Business is what we think Mekong Capital will support Rever a lot,” he said.
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Similarly, Propzy – a business operating in the same segment as Rever announced a successful $ 25 million in Series A round of funding from Softbank, Gaw Capital and a number of investors, bringing the total raised capital to $ 37 million in the quarter. II/2020 and the end of the Series B funding round of 50 million USD at the end of 2021. This start-up representative revealed that he is discussing with a group of foreign investors who are very interested in the potential Proptech market in Vietnam. Male.
Will be a new trend
2021 is considered by many experts to be the pivotal year of real estate technology, when during the epidemic, technology has participated in all activities in the value chain of the real estate sector, from marketing, sales, property management to customer care and finance.
However, in a large field such as real estate, technology application is still limited and has not been fully exploited like other industries. Proptech is a big piece of cake, opening up opportunities for many organizations to occupy from large markets to niche markets that match the capacity of businesses.
Given that, in the near future, there will be a revolution for Vietnam’s Protech market, Pham Lam, founder of the Houze Group Real Estate Technology Ecosystem, assessed solutions to help the resident community. A better experience in the urban area with many integrated features, as well as building new investment models so that more people can participate in the market easily and conveniently on the technology platform are the areas will be focused.
Sharing the same view, General Director of Dai Phuc Land said that in recent years, technology companies have developed rapidly, creating achievements in the market. Many real estate companies are aware of the role of technology, so have poured their budget into developing applications and achieved remarkable results.
“The trend of Proptech in Vietnam is increasingly clear. Applying technology to research, searching, buying, selling, operating leasing is popular in the real estate market and recently, applying technology to real estate investment, dividing investment rates for investors to invest in real estate. Investors with modest finances can still participate in the real estate market. I think this will be the trend that will lead the market in the near future”, emphasized CEO Dai Phuc Land.