Singapore: Digital property agency Greyloft closes $1.1m seed round

Greyloft homepage. September 2016

Singapore-based digital property agency Greyloft, which describes itself as a full-service technology-enabled property agency, has concluded a round of seed funding of S$1.5 million ($1.1 million) from DSG Consumer Partners, Wavemaker Partners, Cub Capital, Tigris Capital and JFDI.

The venture provides online tools that aid customers in renting a property, starting from online research through to paperwork and post move-in support.

It also provides offline services such as a team of licensed in-house property agents to assist customers in shortlisting properties, coordinating viewings, negotiating terms and moving in. Some of the features it offers includes neighbourhood guides, a property discovery platform and price trends comparison data to aid decision-making.

Siddhesh Narayanan, Co-founder and CEO of Greyloft, said, “There are a lot of players in the market addressing property listings. Once renters or buyers see the listing online, they have to rely on multiple agents for the rest of the process.”

Narayanan adds, “Moreover, property portals have no control over these agents. As a result, they often go through a disjointed end-to-end experience which Greyloft aims to address. From property discovery to house selection and paperwork, we want to ensure that our customers sail through the entire house-hunting process seamlessly.”

Given the proliferation of data, Singapore reflects a market where there are multiple sources of information, necessitating a need for curated information resources on a single platform. This sees Greyloft recruiting additional data scientists and researchers to aggregate and present relevant information out of the various data sources regarding Singapore’s property market.

The startup is building and training its own team of in-house agents to ensure customers receive high quality advice and a consistent experience, in addition to being equipped with customised tools to simply and manage their work processes and deal flow. Currently serving the rental market in private residential properties, it also intends to expand into the sales segment.

Deepak Shahdadpuri, managing director of DSG Consumer Partners, stated: “They build the next generation digital platform to manage the cumbersome real estate transaction process. Greyloft has developed a set of tools that automate much of this process and bring a level of transparency that is absent today.”

“Greyloft’s mission is to make the end-to-end process simpler through more sophisticated data and analytics. We are using Singapore as a test bed for the new product before looking at other markets in Southeast Asia,” he adds.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.