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Vietnamese proptech startup Houze bags $2 million

Vietnamese proptech startup Houze has secured $2 million in its latest funding round led by DKRA Group to expand its fully integrated real estate ecosystem for agents and customers through its offline-to-online platform.

Vietnamese proptech startup Houze bags $2 million

The proptech startup has developed a multi-platform for real estate brokers and homebuyers with a variety of services ranging from transaction to management, investment, and financing options. It features digital brokerage Houze Agent and a SaaS-based property management platform Houze Commerce among others.

Houze said that it will use the fresh fund to improve its core products and complete its leadership team. The strategic partnership will help the startup to take advantage of DKRA Group's exclusive inventories as well as industry experience.

Houze also revealed that it is in the process of closing an additional fund with venture capital to launch new products.

Vietnam has emerged as a thriving real estate market in Southeast Asia. Despite the global crisis, Vietnam has reached its target of over 2.58 per cent GDP growth in 2021. According to Vietnam National Real Estate Association, the scale of the real estate market will reach $1.2 billion, accounting for 22 per cent of the total assets of the economy by 2030.

The market is a fertile ground for proptech startups, which are gaining traction in various segments like the marketing housing business, office management, and smart homes. This trend is gradually expanding to related areas such as shopping malls, real estate logistics, and hotels.

However, proptech startups also face numerous challenges. Vietnamese proptech startup Propzy has laid off over 50 per cent of its staff as the company scaled down due to the pandemic and its ongoing restructuring plan.

Source: VIR

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