Hipflat, a Bangkok, Thailand-based technology-driven real estate marketplace, raised an undisclosed investment from Aucfan, Japan’s largest online auction price analytics and search platform.
The company, which has also received funding from international investors such as 500 Startups, intends to use the capital to introduce new innovative products that aim to increase transparency in emerging property markets.
Incorporated in 2013 by Denis Nemtsev, CEO, Hipflat is an online real estate portal connects property buyers and renters (residential, commercial and industrial) with sellers and landlords. It provides a proprietary data mining solution, which allows the collection, extraction and processing of real estate pricing data from hundreds of unstructured sources. The data, collected with the help of Natural Language Processing and Machine Learning technologies, includes asking prices for over 2,500 projects going back as far as eight years, achievable rental yields and pricing trends.
The company currently lists 260,000 active property listings, and receives over 30,000 monthly inquiries from homebuyers and renters.