<article>Australian startup <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/apac-digest-jocoos-500-startups-huobi-labs-partnership-93008/">Airtasker </a>co-founder Jonathan Lui&#8217;s new venture &#8211; property discovery and management app Soho &#8211; has raised $1.29 million (SGD1.71 million) bagging an investment led by <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/apac-digest-jocoos-500-startups-huobi-labs-partnership-93008/">Bridgelane Capital</a>.
The latest round of funds will be used to accelerate product development and more than double the team at their Singapore headquarters, Soho said in an announcement on Wednesday.</article>

Australian startup <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/apac-digest-jocoos-500-startups-huobi-labs-partnership-93008/">Airtasker </a>co-founder Jonathan Lui&#8217;s new venture &#8211; property discovery and management app Soho &#8211; has raised $1.29 million (SGD1.71 million) bagging an investment led by <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/apac-digest-jocoos-500-startups-huobi-labs-partnership-93008/">Bridgelane Capital</a>.
The latest round of funds will be used to accelerate product development and more than double the team at their Singapore headquarters, Soho said in an announcement on Wednesday.
&#8220;The funds will be used to accelerate team growth at the company’s headquarters in Singapore, doubling the size of its software development team, who will have an enhanced focus on integrating Soho’s products with leading Customer Relationship Management (CRM) software used by the industry, with the aim of deepening its market penetration by making it easier to on-board property agents,&#8221; the statement said.
The startup also mentioned that it had not planned to raise additional funds until the second half of 2018 but attracted the attention of investors following its launch five months ago.
With the latest round, Soho has raised a total SGD$2.75 million in funding which includes $1 million capital in May 2017 from investors. The early investors include Hub Ventures Fund, an early-stage investment company launched by Impact Hub Singapore.
Positioned as the ‘LinkedIn for Property,’ Soho provides a ‘digital door-knock’ and network to bring more properties online to be searched and discovered at any time by potential buyers and renters, whether or not they are currently ‘on-the-market’.
The startup now has presence in both Singapore and Australia and has seen over 10,000 downloads since its launch, with over 5,000+ properties and listings added to the platform worth over $3.5 billion. It even claims to have made a headway with the property sector in both markets with major property agents in Singapore including many from ERA, Propnex and Huttons signing up to the service, along with major franchises from Ray White, McGrath and Harcourts in Australia.
“One of the biggest issues we’re hearing from agents in Singapore is that fees to list properties online are only getting more expensive.These are dramatically increasing every year and can cost thousands of dollars, but our view is that technology should be making things cheaper, not more expensive,” said Jhonathan Lui who founded the company.
He added that the Singapore residential property market is worth approximately $900 billion but these assets are essentially offline/uncontactable until they go through all the hurdles to become ‘on-the-market.’
BridgeLane CEO Markus Kahlbetzer who is also the Tank Stream Ventures director, was also an early investor in Lui’s first venture, Airtasker, which emerged as one of Australia&#8217;s biggest startup success stories.
A Sydney-based company Airtasker provides an online and mobile marketplace enabling users to outsource everyday tasks. It also raised $33 million in a Series C funding last year for expansion in UK.
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Airtasker co-founder Jonathan Lui's new venture -- property discovery and management app Soho has raised $1.29 million in a round led by Bridgelane Capital.

Property app Soho raises $1.29m for expansion of Singapore headquarters

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Property app Soho raises $1.29m for expansion of Singapore headquarters

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