Beacon VC, the corporate venture capital arm of Kasikornbank, has led a seed financing round in Thai rental properties management platform Horganice, according to its official announcement on Tuesday.
The undisclosed funding round will enable Horganice to accelerate customer acquisition as well as adding new services to digitize rental properties.
“Apart from receiving the funding, Horganice will have an opportunity to collaborate with KBank in order to acquire new customers and leverage innovative financial services such as payment systems to provide fast, efficient and convenient product offerings to its customers,” said Beacon VC managing director Thanapong Na Ranong.
Horganice, established in 2015, offers both smart property management software and hardware-based automation products that reduce management costs and allow dormitory owners to run their business efficiently.
Targeting those who live outside Bangkok, Horganice currently serves around 3,000 properties with over 130,000 rooms across every province in Thailand.
“Our mission is to bring property management in Thailand into the new digital era and enable a carefree life for both owners and tenants alike,” said Horganice CEO and co-founder Tanawit Tonekunya.
Horganice marks the seventh direct investment and the first seed round investment of Beacon VC.
Beacon VC has a fund size of $135 million and has invested in Thai fintech startup FlowAccount, ride-hailing unicorn Grab, cross-border payment firm InstaReM and Thai wealthtech company Jitta.