Malaysia’s proptech startup NEXPlatform raises $189K from Cradle Fund

NEXPlatform co-founder Alvin Chooi (second from left) and Cradle Fund chief investment officer Juliana Jan (second from right).

Malaysia-based proptech startup NEXPlatform has raised RM775,000 ($189,000) from Cradle Fund via its Direct Equity 800 (DEQ800) investment programme, it said in a statement on Friday.

The startup will use the fresh capital to upgrade its platform and service, and for team and market expansion.

This is the first external funding for NEXPlatform, which brings together property developers, real estate agents, solicitors and bankers on a common digital platform to facilitate the property lifecycle from pre-sales to after-sales services.

“Currently, there are more than hundreds of property projects listed on our platform, which including the reputable and big scale developers in Malaysia. Also, there are over 5,000 users with at least 30,000 property transactions have been carried out through our solution to date,” said NEXPlatform co-founder Alvin Chooi.

The startup claims that it has successfully increased its clients’ leads follow-up action by 74 per cent, reduced marketing material cost by 40 per cent and accelerated loan turnaround time by 30 per cent.

“The desire to migrate from the traditional way of doing things has been sporadic at best. We believe NEXPlatform is offering the right solutions to empower the local property industry and we are excited to be part of this journey with them. As the technology continues to become more ubiquitous, you can expect home buying to never be the same again,” said Cradle Fund chief investment officer Juliana Jan.

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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.