PropertyGuru raises S$300M to accelerate growth in Southeast Asia

Long-standing shareholders TPG and KKR strengthen investment and confidence in the Group’s leadership, strategy and performance.

SINGAPORE, 2 September 2020 – PropertyGuru Group (‘PropertyGuru’ or ‘the Group’), Southeast Asia’s leading property technology(“PropTech”) company, today announced that it has received an additionalinvestment of S$300 million (approx.) [US$220 million] in recent funding roundsby leading global investment firms TPG and KKR (via KKR Asian Fund III). 

This investment comes at an extraordinary time for PropertyGuru:With 24% y-o-y revenue growth, PropertyGuru beat 2019 forecasts and continuesto lead in Southeast Asia with 57% market share* (4x nearest player). PropertyGuru is the PropTech leaderacross all five markets in the regionwith its No. 1 marketplaces: PropertyGuru in Singapore and Malaysia, Batdongsan.com.vn in Vietnam DDproperty.com in Thailand, and Rumah.com and RumahDijual.com in Indonesia. Over the past year, businessmomentum and financial performance has been very strong across multiple keymarkets.

The funding will accelerate PropertyGuru’s growth strategyacross all key markets as the Group ramps up its investment to meet the rapidlyevolving needs in the property ecosystem. The continued support of TPG (overthe past five years) and KKR (over the past two years) will see PropertyGurufurther invest in identified strategic areas of growth, including its mortgage marketplacelaunched this year- PropertyGuru Finance, an end-to-endsales enablement solution for property developers- PropertyGuru FastKey anddata capabilities to empower property seekers across Southeast Asia to‘Find.Finance.Own’ their homes.

Olivier Lim, Chairman of theBoard, PropertyGuru Group,said, “Since its founding in 2007, PropertyGuru has secured its leadership by continuingto provide increasing value to all its customers and users. We have scaledrapidly across Southeast Asia by anticipating and addressing consumer needswith a data-driven strategy, underpinned by a talented team of ‘Gurus’. Thisyear, amidst the changing business realities, the demonstrable strength of ourplatforms has solidified our relative market leadership and providesnew opportunities to accelerate both organic and inorganic growth with newinvestments. This increasedsupport from TPG and KKR to accelerate growth is a great validation of theGroup’s successful performance, its leadership team and their strategy to unlockthe opportunities that will achieve the Group’s ambitions in the region.”

Hari V. Krishnan, Chief ExecutiveOfficer and Managing Director, PropertyGuru Group, said, “Ourstrong financial performance over the last few years has enabled us to invest aggressivelyand smartly, to build what is today an integrated and differentiated technologyplatform that caters to the unique opportunities in Southeast Asian markets.

The additional investments from TPG and KKR will enable us to continuebuilding Southeast Asia’s property trust platform and accelerate our momentumin key markets like Malaysia and Vietnam. We help property seekers‘Find.Finance.Own’ their home and these new investments will accelerate thegrowth plans we have identified as more consumers and customers move towardsdigital solutions for  property buyingand selling. Over the last thirteen years we helped create the PropTech industryin this region, and as the market leader we look forward to providing further innovationsto digitize the propertysector.”

Upgrades and new offerings so far in 2020

PropertyGuru’s belief in technology as a connector and solutionto resolve home-seekers’ pain-points has seen it relentlessly invest and expandits service offerings in data and digital tools to improve transparency in theproperty ecosystem for consumers, developers, and agent partners acrossSoutheast Asia.

This year, PropertyGuru expanded into home financewith the launch of a mortgage marketplace in Singapore, ‘PropertyGuru Finance’, as well as a major upgrade to theproperty seeker experience in Vietnam. The Group enhanced offerings to providedata-driven insights as well as additional sources of income for agentpartners. For property developers, significant enhancements were made to PropertyGuru FastKey withthe launch of PropertyGuru FastKey – StoryTeller- a digital product that allows360-degree immersive walkthroughs of a project, its units and the surroundingcityscape, to showcase and explore properties with real-timeavailability, straight to the screens of property seekers who explore properties from theconvenience and safety of homes. This solution enables propertydevelopers to start marketing their projects much earlier, even beforeconstructing the sales gallery or show flat.

Asbehaviours adopted during the pandemic reshapeconsumer habits and preferences in a new normal, digital transformationis accelerated across sectors. Per the latestreport by Bain & Company and Facebook, nearly 70% of Southeast Asians areexpected to be digital consumers by the end of 2020. The dynamic landscape is thusrevealing new growth opportunities in PropertyGuru’s existing markets toenhance and expand offerings to consumers, property agents and developers.

– END –

^*Market share Source: SimilarWeb data - Engagementmarket share, last six month average as at July 2020

About PropertyGuru Group

Groupis Southeast Asia’s leading property technology company and the preferreddestination for 24.5 million property seekers to find their dream home, everymonth.  PropertyGuru and its group companies empower property seekers withthe widest option of more than 2.7 million homes, in-depth insights andsolutions that enable them to make confident property decision acrossSingapore, Malaysia, Thailand, Indonesia and Vietnam.

PropertyGuru.com.sg was launched in 2007 and revolutionised the Singapore propertymarket by taking it online and made property search transparent for theproperty seeker. Over the decade, the group has grown from a regional propertymedia powerhouse to a high-growth technology company with a robust portfolio ofNo.1 property portals across its core markets; award-winning mobile apps;best-in-class developer sales enablement platform, FastKey; mortgage marketplace PropertyGuruFinance; and a host of industry-leading propertyofferings including Awards, events and publications across Asia.   

Formore information, please visit www.PropertyGuruGroup.com ; https://www.linkedin.com/company/propertyguru