Philippine-based online real estate marketplace ZipMatch has raised $2.5 million in its third fund raising and is now eyeing expansion across Southeast Asia.
Singapore’s Monk’s Hill Ventures led the Series A funding round that also saw participation from fellow venture firm 500 Startups and other investors. It was actually Monk’s first ever investment in the Philippines.
The amount is the largest financing deal for a tech startup in the Philippines, outnumbering the $2 million funds raised by job-matching software firm Kalibrr and mobile e-commerce platform Cash-Cash Pinoy.
Monk Hill Ventures’ managing director KouYi Lim will join the ZipMatch Board as an adviser.
Since its founding in 2012, the ZipMatch team has now raised a total of $3.5 million seed funding backed by other investors such as Hatchd Digital, IdeaSpace Foundation, and IMJ Investment Partners.
Besides the planned regional expansion, ZipMatch co-founders John Dang, Chow Paredes, and Kyle Wiltshire say they are determined to bridge the real estate gap by further strengthening the company’s ongoing local expansion across the Philippines and by developing products designed for home buyers and brokers. Dang is the startup’s CEO, while Paredes and Wiltshire serve as chief revenue officer, and chief technology officer, respectively.
Included in the company’s goals this year is to recruit more talent and experts in real estate, computer programming, content creation, product development, and customer service.
Focused on providing a ‘smarter’ home-buying experience, ZipMatch offers a smarter process that helps prospective homebuyers into making confident decisions when buying their homes. Its property pages include overviews, available listings and photos, virtual 360° tours, property scout and user reviews, and other significant details.
“Having updated, reliable data in an online real estate marketplace is a big challenge, and I think we have made strides by putting out a product that is unique,” Paredes said.
And compared to other platforms that focus merely on classifieds, ZipMatch presents an array of services that eliminates most of the online research and physical work involved in property searching.
Lim said ZipMatch brings different facets of real estate and internet expertise to the table.
“They are biased towards action, so we are confident that this team will be able to execute quickly and take advantage of the opportunity not only in the Philippines, but in the broader Southeast Asia region and beyond,” Lim said.
ZipMatch caters to both home buyers and real estate brokers and developers. The company offers consultation to home buyers about the properties they are interested in, while it enables brokers and real estate developers find more prospective home buyers and serve them more efficiently through the use of real estate specific CRM software, and dedicated sales trainings about serving online customers effectively.