Vietnam’s proptech startups favored by investors despite Covid-19

Many Vietnam’s startups have died young during Covid-19, but startups in the real estate sector, or proptech, appear to have been unhurt by the epidemic.

In February, CenGroup announced the investment of $1 million in Revex, a technology platform for joint investment in real estate.

Vietnam’s proptech startups favored by investors despite Covid-19

The founders of Homebase



The deal was made following a capital call by Revex founders at Shark Tank 2019, a TV show.

Commenting that this is a good idea but there are latent legal risks, the other ‘sharks’ refused to provide capital. But Shark Hung of CenGroup thinks otherwise and decided to pour $1 million worth of Capital in Revex for 25 percent of shares.

In April, the representative of Homebase spoke about the pre-seed funding from Antler and Iterative VC, the two venture funds from Singapore which specialize in providing capital in the first phase of startups’ operation, and other angel investors.

Many Vietnam’s startups have died young during Covid-19, but startups in the real estate sector, or proptech, appear to have been unhurt by the epidemic.
 

JunYuan Tan, a co-founder of the startup, revealed that Homebase has successfully called for $310,000 worth of capital.


In June 2020, Propzy.vn revealed that it successfully raised $25 million worth of funds in Series A round. The two biggest investors are Gaw Capital and SoftBank Ventures Asia. It also got support from other investment funds, including Next Billion Ventures, RHL Ventures, Breeze, FEBE Ventures, RSquare and Insignia.

Most recently, in July, RealStake, a proptech and fintech, said it successfully called for capital in the seed funding round from 500 Startups Vietnam and angel investors.

The angel investors include well known names, such as Neil MacGregor, the CEO of Savills Vietnam, Dinh Anh Huan, founder and chair of Seedcom, Ba Ha Truc from Qatar National Bank, Alex Huy Tran and Minh Cao.

RealStake says its mission is to digitize and simplify investment activities of individual users in Southeast Asia.

In 2019, the platform was officially launched in Vietnam, allowing many individual investors to invest in the same real estate products.

The real estate sales on RealStake have been growing by more than 200 percent over the last year since the launch and investors have mostly invested $1,000 more than the minimum investment set by the platform.

Analysts pointed out three reasons for investors to have an interest in proptech.

First, the real estate investment and business environment in Vietnam still lacks transparency and real estate assets are set at overly high levels compared with what people can actually afford.

Second, the proptech sector in Vietnam is still in very early stage of development, so it has a lot of potential.

And third, the founders of most proptechs are well known names in the Southeast Asian startup community.

John Le of Propzy, for example, is very famous, and behind the success of leading fintechs, including LoanTrader and Portellus.

Le Ha

Capital inflows to Southeast Asian startups up 91 percent despite outbreak

Capital inflows to Southeast Asian startups up 91 percent despite outbreak

Southeast Asian startups, especially e-commerce and fintech companies, have witnessed a significant increase in investment between April and June.

Vietnamese startups bag millions of US dollars despite COVID-19 pandemic

Vietnamese startups bag millions of US dollars despite COVID-19 pandemic

A slew of Vietnamese startups managed to secure millions of US dollars even in the midst of the rapidly escalating COVID-19 pandemic.

 
 

Other News

.
Chubb Life Vietnam honored 'Top Insurance Workplaces 2020'
Chubb Life Vietnam honored 'Top Insurance Workplaces 2020'
BUSINESSicon  14/09/2020 

Insurance Business Asia, a world-renowned insurance publication, has just named Chubb Life Insurance Vietnam Company Limited (Chubb Life Vietnam) among the “Top Insurance Workplaces 2020” in Asia.

Warm welcome to eagles, not to tigers or snakes
Warm welcome to eagles, not to tigers or snakes
BUSINESSicon  13/09/2020 

The author of this article received a request to write about his contributions to policies on foreign direct investment (FDI) attraction.

How to attract high-quality foreign direct investment
How to attract high-quality foreign direct investment
BUSINESSicon  13/09/2020 

Industrialization requires high-quality foreign direct investment (FDI). Many issues must be addressed, including how to developed a skilled workforce.

Predicted consumer resets to shape Vietnam FMCG market: Nielsen
Predicted consumer resets to shape Vietnam FMCG market: Nielsen
BUSINESSicon  14/09/2020 

The news cycle related to Covid-19 transmission no longer influences trends on the FMCG market in Vietnam and Southeast Asia.

Lam Dong halts agricultural tourism projects
Lam Dong halts agricultural tourism projects
TRAVELicon  13/09/2020 

Despite keen interest from businesses to invest in agricultural tourism in the Central Highlands province of Lam Dong, the provincial government is not granting an approval to such projects for the time being.

Vingroup rejects rumour about selling stake in Vinmec and Vinschool
Vingroup rejects rumour about selling stake in Vinmec and Vinschool
BUSINESSicon  13/09/2020 

Vingroup rejects rumour about selling its stake in Vinmec and Vinschool, reiterating that these two systems play a crucial role in the group’s ecosystem.

Hotel rates down steeply as COVID-19 keeps away tourists
Hotel rates down steeply as COVID-19 keeps away tourists
BUSINESSicon  12/09/2020 

The hotel industry is facing arguably its greatest challenge as the impacts of COVID-19 keep away foreign visitors from the country.

MPI prepares new decree on SOE information disclosure
MPI prepares new decree on SOE information disclosure
BUSINESSicon  12/09/2020 

The Ministry of Planning and Industry (MPI) is developing a new decree to guide State-owned enterprises (SOEs) on disclosing information, aiming to...

Vietnam likely to gain export target for timber and wooden products this year: experts
Vietnam likely to gain export target for timber and wooden products this year: experts
BUSINESSicon  12/09/2020 

 Experts believe Viet Nam this year will reach its export target for timber and wooden products at US$12 billion, despite the impact of the COVID-19...

VIETNAM'S BUSINESS NEWS HEADLINES SEPTEMBER 13
VIETNAM'S BUSINESS NEWS HEADLINES SEPTEMBER 13
BUSINESSicon  13/09/2020 

Vietnam home to nearly 50,000 rooftop solar projects

Vietnam's energy sector a magnet for foreign investors
Vietnam's energy sector a magnet for foreign investors
BUSINESSicon  11/09/2020 

National electricity demand is expected to increase by 8.5 per cent a year until 2025 and 7 per cent until 2030, making Vietnam an attractive market for foreign energy investors.

Ministry asks for tightened management on condotels, officetels, shophouses
Ministry asks for tightened management on condotels, officetels, shophouses
BUSINESSicon  12/09/2020 

The Ministry of Construction has asked provincial and municipal people’s committees to tighten management on condotels, officetels, resort villas and shophouses 

Auto industry steers strategy towards wider supply chains
Auto industry steers strategy towards wider supply chains
BUSINESSicon  11/09/2020 

Vietnam’s automobile industry is transforming drastically but it still lacks scenarios to join the global supply chains after the COVID-19 pandemic.

VIETNAM'S BUSINESS NEWS HEADLINES SEPTEMBER 12
VIETNAM'S BUSINESS NEWS HEADLINES SEPTEMBER 12
BUSINESSicon  12/09/2020 

Vietnam recovery prospects brightest in Southeast Asia: ICAEW

Versatility letting retail grow anew
Versatility letting retail grow anew
BUSINESSicon  10/09/2020 

The local retail sector is set to maintain its encouraging growth towards the end of the year, with new drivers coming online.

Anxious carmakers hoping losses remain in rear mirror
Anxious carmakers hoping losses remain in rear mirror
BUSINESSicon  10/09/2020 

Despite efforts in converting part of their facilities to produce ventilators and face masks for fighting the coronavirus pandemic, global carmakers are still reporting losses 

Vietnam's current account forecast at 3.7% in 2020
Vietnam's current account forecast at 3.7% in 2020
BUSINESSicon  10/09/2020 

Vietnam’s current account surplus could narrow to 3.7 per cent in 2020 from 4.9 per cent last year due to the impacts of the COVID-19 pandemic, according to Fitch Solutions.

Trade plummets at HCM City’s wholesale markets after second COVID-19 outbreak
Trade plummets at HCM City’s wholesale markets after second COVID-19 outbreak
BUSINESSicon  10/09/2020 

Wholesale markets in HCM City are facing a serious crisis due to the second COVID-19 outbreak. 

Businesses race against the clock to issue bonds
Businesses race against the clock to issue bonds
BUSINESSicon  11/09/2020 

Large corporations are rushing to seek capital through bond issuances before a new regulation, with stricter requirements, takes effect.

VN farm produce prices plummet amid oversupply, impact of Covid-19
VN farm produce prices plummet amid oversupply, impact of Covid-19
BUSINESSicon  11/09/2020 

Booth avocado, the specialty of Dak Lak province, is now selling at VND10,000-20,000 per kilogram, and the price of passion fruit has also fallen dramatically.

 
 
 
Leave your comment on an article

OR QUICK LOGIN