Philippines: 500 Startups-backed property solutions firm Qwikwire raises fresh funds

Manila Bay (visual from Pixabay)

500 Startups-backed Qwikwire, a cross-border property solutions platform in the Philippines, has raised an undisclosed amount in its latest fundraising round, led by First Asia Venture Capital and Cerebro Labs.

Qwikwire said, investors from the US and Japan also joined the round, which is the biggest financing to date for the cross-border property solutions provider.

“The latest funding comes from investors in the real estate industry. Their experience, knowledge and most importantly, network, will be invaluable to our business in the years ahead,” Qwikwire founder and CEO Ray Refundo told DEALSTREETASIA.

The company, which has already raised over $460,000 previously from 500 Startups, JFDI, and Manila Angel Investors Network, said it will use the funds to further expand its operations overseas.

Qwikwire is a Delaware Corporation but mainly runs its operations in Manila.

Founded in October 2013, Qwikwire intends to reduce or eliminate reliance on intermediaries such as agents, brokers, and other marketing channels and connect customers and buyers directly to property developers for real estate deals in the global market.

It will be launching AQwire, a blockchain powered multi-listing platform, to help brokers and property developers sell their units to foreign buyers.

The platform is considered a DApp or decentralized application as it will be built on top of the blockchain technology. It is also seen to be the first of its kind in the Philippines and one of the first ICOs in the country.

The company targets to raise $9.9 million in an ICO crowd sale on March 26 with a pre-sale event happening on March 12.

Also Read:

Philippines: Qwikwire launching $9m ICO to aid property players to tap global market

Startup Digest: Qwikwire wins Ignite PH; Seedstars picks eight finalists

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.