Malaysia’s Frontier Digital Ventures backs Philippine property portal Hoppler

Visual from Hoppler blog site.

Malaysia-based venture capital firm Frontier Digital Ventures (FDV) has invested in Hoppler, a real estate online platform catering to vendors, buyers, and real estate agents in the Philippines.

The size of the deal was undisclosed.

Hoppler brings to 19 FDV’s portfolio of companies operating businesses across 22 markets. FDV since 2014 has been serving as operator of online classifieds businesses in underdeveloped, emerging countries or regions. It listed on the Australia Securities Exchange (ASX) in August 2016.

Founded in 2015 by Silicon Valley entrepreneur Ramon Ballesca, Hoppler’s business model creates a solution for agents and consumers in a highly fragmented Filipino real estate agent industry.

Hoppler’s online platform enables property transactions among its network of professional brokers connected through the use of its proprietary deal management technology called Kumita, a Filipino word that means “to earn”.

The investment in Hoppler follows FDV’s strategy of evolving its revenue mix to be closer to the transaction and partnering with local entrepreneurs.

FDV founder and CEO Shaun Di Gregorio, said Hoppler’s digitization of the real estate brokerage market in Manila has expanded over the broader Philippine market.

“The Hoppler digital real estate agency business model has evolved organically in the Philippines due to localized issues with the existing real estate broking model,” Di Gregorio said. “We look forward to supporting the rapid growth of their sales team and implementation of best-in-class management models to help Hoppler capitalise on their significant market opportunity.”

FDV noted Hoppler has a 6 per cent average close rate from online leads generated, compared to 2 per cent for non-Hoppler leads. This translates that it has created a pure transactional revenue model, where it can share up to 50 per cent of the sales commission with partner brokers once a transaction completes.

The company added Hoppler receives an average commission of $2,000 for its operations around affluent areas in Manila. The business model is similar to the commission-based businesses Redfin, and Compass based in the US.

Also Read:

iMyanmarHouse founder secures 50% soft commitment for $5m local VC fund

ASX-listed FDV invests $952K in Uruguay property portal Infocasas

Malaysia: Frontier Digital invests $3.5m in classified portals AutoDeal, Propzy

Philippines: ZipMatch closes another Series A round led by Kickstart

Philippines: IMJ, Machine Ventures fund real estate startup GetPlace

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).   

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  • 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. 
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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.