Singapore proptech startup REALly raises US$369K seed funding.

Thu Aug 15, 2019 - 7:19am UTC

Really 1

15/08/2019 – A property management and marketplace platform, Really (styled as REALly) has bagged S$500K, equivalates to roughly US$369K, in seed funding from strategic advisory Huntington Partners and angel investors, according to The Business Times.

Founded in 2017, the Singapore based company dubbed themselves as a “one-stop integrated solution for property management and tendering needs.”

An advocate for a paperless procurement process Really aims to fuse the traditional property market with the latest innovative technology. The startup provides a platform to the ASEAN property market that combines project management, real estate e-tendering and an open procurement marketplace. 

The marketplace featured in Really currently boast roughly 2,500 suppliers and contractors while the platform itself has over 50 property and project managers on board. According to the firm, the managers come from firms such as Savills, Colliers International, and Faithful+Gould. 

Saacketh Chawla, regional head of project management, Colliers International was quoted saying “There will be genuine benefit through technology-enabled platforms like REALly that can bring both efficiency and transparency to this industry.”

Following the seed funding round, Joerg Zeugner, founder of Really, stated that the startup will be working on enhancing the current platform and marketplace. Which will then enable the firm to further develop their overseas market namely Malaysia and Indonesia. Really revealed that they already have “identified partners” in both markets. 

According to JLL report, the Asia Pacific real estate transaction volume reaches US$86B for the first half of 2019. Making it the only region to gain a year-on-year increase of 6 percent globally. 

The region’s real estate industry could benefit from firms such as Really that combines technological advancement with traditional players to push towards a digital revolution. 

Prior to the seed funding, Really operates as a bootstrapped startup with a 14 employees team. 

This news is published on Reuters.

Lo Jia Thong is a writer that writes about the latest announcements on venture capitals and startups from Southeast Asian countries.