VinaCapital Ventures invests $4 million in tech-based property brokerage

Friday, Jun 14, 2019 11:42

VinaCapital Ventures announces an investment of US$4 million in Rever, a tech-enabled real estate brokerage company, at the Vietnam Venture Summit in HCM City on Wednesday. — Photo courtesy of VinaCapital

HCM CITY — VinaCapital Ventures, the technology investment arm of VinaCapital, said it has invested US$4 million in Rever, a tech-enabled real estate brokerage.

Khanh Tran, a partner at VinaCapital Ventures, disclosed this at the Vietnam Venture Summit in HCM City on Wednesday.

“This investment is consistent with our philosophy of targeting start-ups that are disrupting how industries operate, are operated by founders with a vision and experience and are capitalising on the continued robust expansion of Việt Nam’s economy.

“VinaCapital is a long-time real estate investor and developer, so this investment is also very strategic for us. Rever has the potential to lead the transformation of the real estate business, from one that is still very much based on bricks-and-mortar to one that is a key part of the digital economy.”

Mạnh Phan, co-founder and CEO of Rever, said: “We are excited to partner with VinaCapital, whose experience and network will give us the resources to reach our potential in Việt Nam and potentially beyond. With one of the strongest track records in both real estate and venture capital, VinaCapital is the ideal partner to help us take our company to its next stage of growth.”

Founded in 2016 by Mạnh Phan, Lợi Võ and Minh Phan, Rever is the first company of its kind in Southeast Asia.

Its 400 agents are expected to close 2,000 transactions through its platform this year. The company hopes to play an important role in the Government’s initiatives to develop the digital economy 4.0 by making real estate transactions safer and more transparent.

VinaCapital Ventures has also invested in FastGo, Logivan, Urbox, and Wee Digital. — VNS

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