PropertyGuru, an Asian property portal group, has secured a double digit million Singapore dollar strategic investment from ImmobilienScout24, a Germany-based real estate marketplace and a subsidiary of global company Deutsche Telekom.
The company intends to use the proceeds from the investment to further strengthen its market position and continue to innovate, developing services for clients to find and advertise properties, expanding within the region., as well as hiring additional people.
Founded in 2006 by CEO Steve Melhuish, PropertyGuru provides an integrated media platform that real estate developers and agencies can use to promote their brands and generate sales leads. It is present in 9 countries, directly (employing 240 “Gurus” across 6 offices in Singapore, Thailand, Malaysia and Indonesia) and indirectly via partners (with websites in Australia, Hong Kong, India, Vietnam and China). Its websites are used by 8.2 million buyers, viewing over 65 million property pages and generating over 200,000 sales enquiries for advertisers – every month.