PropertyGuru gets US$145mn in funding, KKR among investors
ECONOMYNEXT – PropertyGuru, a Singapore-based online property portal, said it has secured S$200 million (about US$145 million) in a new round of funding, including money from global investment firm KKR.
The portal has a presence in several East Asian markets and held the PropertyGuru Asia Property Awards for the first time in Colombo in July 2018 that recognised the island best developers who will compete in the regional awards in Bangkok this November.
“KKR’s investment in PropertyGuru is being funded from KKR Asian Fund III,” a statement said. “The investment is part of the firm’s strategy to invest in high-growth markets that the firm believes can benefit from a rapid increase in technology adoption.”
KKR now joins PropertyGuru’s board of investors alongside TPG, Emtek and Square Peg Capital.
PropertyGuru is in across five markets in the region with its portals PropertyGuru in Singapore and Malaysia, DDproperty.com in Thailand, Rumah.com in Indonesia and Batdongsan.com.vn in Vietnam.
(COLOMBO, 01 November, 2018)