Philippines: ZipMatch closes another Series A round led by Kickstart

The technology-based toolbox ZipMatch Pro.

Philippine real estate matching startup ZipMatch has completed a Series A1 round led by Kickstart Ventures, the wholly-owned venture capital firm of Globe Telecom Inc.

Monk’s Hill Ventures also joined the bridge round. It backed up ZipMatch last March 2015 in a $2.5 million Series A round.

The size of the latest investment was not disclosed.

Zipmatch is the now 26th investment of Kickstart, which invests in digital tech startups globally.

Also Read: Philippines: ZipMatch shifts focus from home buyers to property sellers

Launched commercially in April 2013 as brokerage firm with a few employees, ZipMatch evolved into a mid-sized technology business that addresses the pain points in buying and selling homes. It used to only assist home buyers but early this year shifted its business model into empowering more the real estate sellers.

Kickstart president Minette Navarrete, said ZipMatch has the potential to become the go-to-site of people in search for the home of their dreams.

“ZipMatch has a deep understanding of the property market from both the homebuyer and real estate professional side. As a venture capitalist with sharp focus around digital, Kickstart believes that the team has the necessary balance of platform and tech, data analytics, and human touch, making the home search process much more efficient, while also providing great real-life support where it counts,” Navarrete said.

ZipMatch co-founder Chow Paredes said the company sees very good results of tightening its knobs down in terms of user experience and processes.

Also Read: PH online realty marketplace ZipMatch raises $2.5m from Monk’s Hill Ventures, 500 Startups

“ZipMatch previously focused in growth and traction of users and content in our marketplace. Subsequently for this Series A1 round, we are dialing down our unit economics, sales processes, among others, to achieve an highly efficient marketplace, and achieve a positive profitability trend,” Paredes said.

She noted ZipMatch further advanced its quality content by launching earlier this year the ZipMatch Pro, a suite of tools and services custom and designed for Philippine real estate professionals. It includes a client management tool, a property inquiry marketplace called Zipshop, subscription service for quality content, including a home virtual reality viewing service.

Since its founding in December 2012, ZipMatch is estimated to have raised more or less $4 million in four funding rounds. It raised an undisclosed sum in February 2014, and later received a $550,000 seed fund in August of the same year. This was followed by the $2.5 million investment made by Monks Hill last year.

ZipMatch’s other investors include Hatchd DigitalIdeaSpace Foundation, IMJ Fenox, and 500 Startups.

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