Malaysia: HostelHunting raises $500k from KK, Incubate, Cradle

HostelHunting.com platform.

Malaysia-based student accommodation marketplace HostelHunting.com has raised $500,000 in a seed round led by KK Fund, with funding participation from Incubate Fund and Cradle Fund under the CIP 500 grant programme.

KK Fund is a Singapore-based venture capital fund investing in seed stage internet and mobile startups in Southeast Asia, Taiwan and Hong Kong.

Incubate Fund is the largest seed stage investment group in Japan, backed by Tencent, Yahoo Japan, Innovation Network Corporation of Japan and other investors.

“The funds will enable HostelHunting.com to scale even faster. The focus will be on building an even stronger team, develop new features for students and landlords and expand regionally,” the startup said in a statement.

Launched in January 2015, HostelHunting.com now has more than 21,000 accommodations in its inventory in the majority of student towns in Malaysia. It has also expanded into Singapore this month.

Students can search for their choice of accommodations by area or institution on HostelHunting.com’s platform. Detailed photos and descriptions are provided for each listing.

To facilitate the booking process, the platform also enables students and landlords to connect with each other with over a thousand of messages being exchanged each month.

Students are assured as the accommodations are verified by HostelHunting.com and all bookings come with a 100 per cent refund guarantee. HostelHunting.com is founded by Keek Wen Khai, Loke Weng Leong, Joey Lim and Marcus Low.

KK Fund general partner Koichi Saito commented that HostelHunting.com is a first mover in this untapped student market here in Southeast Asia.

“The founders have deep understanding and network of student accommodation market from their background. Also, the number of students and intakes are growing by close to 10 per cent every year in Southeast Asia and I see massive market potential in this space,” he added.

Chief executive officer and co-founder Wen Khai said that students who have used the platform note the safety and convenience to find and book their accommodations through HostelHunting.com, vice versa for landlords.

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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.