Financial terms were undisclosed.
This comes on the heels of Genesia investing in another Vietnamese startup, Luxstay, , modelled on Airbnb.
The Homedy investment comes at a time when the local property listing area is buzzing with deal activity with Batdongsan.com.vn getting acquired by Southeast Asia’s largest player PropertyGuru, and Ho Chi Minh City-based Gachvang securing a $500,000 funding round.
“The Vietnamese real estate market is poised for strong growth. But finding a good home can be a long and complex process. We believe Homedy will solve the problems,” said Yuto Kono, associate at Genesia Ventures.
Homedy was launched two years ago by Duc Nguyen and Hieu Vu. The duo hold extensive expertise in the digital marketing and media industries in Vietnam, having run music streaming pioneer NgheNhac.info which was founded in 2003, and digital advertising company Moore.vn which was acquired by Japan’s Irep Co in 2014.
The founders said Homedy differentiated itself from other real estate portals in information reliability.
“These days, users are overloaded with real estate information and advertisement such as phone and email spams, SMS offers, TVCs, Facebook, and Google ads. Using our experiences with online advertising, we hope to build a smarter marketplace for property listings,” said Vu.
The seed funding will be used to make key hires and expand the company’s product offerings across Vietnam, Homedy said in a statement.
The startup has listings of nearly 3,500 real estate projects and over 150,000 housing units on its website.
Genesia Ventures, kickstarted by former Cyberagent Ventures CEO Soichi Tajima, is starting its active role in the Vietnam tech space with two investments announced within only a week.
Meanwhile, Pix Vine Capital has co-invested in a number of Vietnamese startups along with Cyberagent Ventures.