Myanmar: Property portal ShweProperty raises seven-digit dollar funding

Photo: Team of ShweProperty.com

Yangon-based property classifieds portal ShweProperty has raised a seven-digit dollar funding round led by an unnamed existing investor, a London-based emerging markets-focused fund, to grow its operations in Myanmar, the company announced on February 18.

The round was joined by Vostok New Ventures, a Sweden-based investment company focused on consumer products and online marketplaces, and ShweProperty managing director Kevin Goos, who was previously the CEO of real estate platform Century 21 Cambodia.

“We are delighted to be investing in the #1 Property Portal in Myanmar. They have strongest management team for online classifieds in the country, and their business traction is truly extraordinary. We look forward to working with the ShweProperty team to further grow and support their business,” said Per Brilioth, CEO of Vostok.

Vostok New Ventures Ltd is a NASDAQ and Stockholm-listed vehicle with $878 million in net assets. Its portfolio includes Russia’s online classifieds platform Avito, Middle East and Africa-focused property portal PropertyFinder.ae, and Hemnet from Sweden.

The ShweProperty team is led by CEO Justin Sway, founder and director Kaung Thu Win and Goos. Sway invested an undisclosed six-digit sum in the startup in May 2015.

Last year, the portal appointed seasoned real estate entrepreneur Gilles Blanchard as a strategic investor and raised a six-digit Series A led by institutional investors.

“With the latest round of funding, we intend to increase the incredible traction we have already achieved, and focus on increased operations in all facets of our advanced Property Portal business model. The team is 100 percent committed to our future success, and I’m very excited to be personally investing financially in the business too,” said Goos.

ShweProperty claims to have over 100,000 property listings on the site, connecting property buyers, renters and sellers. The company works with all the top developers and real estate agents in Myanmar.

“We are very delighted to welcome Vostok New Ventures to the ShweProperty family, and we look forward to working with them and the other very experienced shareholders to continue to dominate the Myanmar market,” said Sway who is also the CEO of JobNet.com.mm, a classified jobs portal in Myanmar. JobNet also fetched a seven-digit Series A in May 2017 led by institutional investors.

Also Read:

Myanmar’s ShweProperty ropes in realty entrepreneur Gilles Blanchard as investor

Myanmar: ShweProperty.com bags six-digit Series A funding for expansion

Myanmar online job portal JobNet.com.mm gets seven-digit Series A

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.