Vietnamese proptech startup Propzy to raise $25m in Series B
Summary
Its latest round was a $6 million financing led by Korean VC firm Stonebridge Capital earlier this year, said its founder and CEO John Le. “We saw many positive similarities between one of our early investments, Korean real estate portal JikBang, and Propzy when it came to understanding the uniqueness of the market and providing Vietnamese consumers with a compelling value proposition that goes beyond just traditional classified site offerings,” commented Fortune Sohn, managing director of Stonebridge. Le claims Propzy is the only proptech company in Vietnam to follow the hybrid online to offline (O2O) model that offers a full-stack real estate platform. “We want to make sure the quality control process is secured, so by the time a property becomes a listing on our marketplace, we can address the real buyers’ needs, which means what they see is what they can actually get,” he added. Since Propzy works directly with property owners and gets all information about assets while simultaneously conducting customer KYC and assessment, it claims it can enable interactions between buyers and sellers within several tens of minutes.