Digital real estate platform Rever receives US$4M funding from VinaCapital Ventures - Reuters

 

Digital real estate platform Rever receives US$4M funding from VinaCapital Ventures

Digital real estate platform Rever receives US$4M funding from VinaCapital Ventures

Thu Jun 13, 2019 - 11:07am UTC

Vina Capital 2

13/6/2019 – VinaCapital’s technology investment arm VinaCapital Ventures announces an investment of US$4M in Rever’s series B funding during the three-day event Vietnam Venture Summit.

The Series B funding comes following a Series A round that was joined by Vietnamese investment firm STI Holding, and Le Hong Minh, the founder and CEO of VNG, one of the Southeast-asian unicorn companies.

Rever provides among their range of tools, real-time transaction management services with smart customer relationship management and property database service to real estate agents, and a price preference tools based on real market data analytics.

Founded in 2016, the company has expressed interest in adding more tools and services to its platform to become a one-stop solution for all accommodation-related needs. Proposed tools include loan brokerage, digital furniture fitting and smart-home solutions.

“This investment is consistent with our philosophy of targeting startups that are disrupting how industries operate,” said Khanh Tran, partner at VinaCapital Ventures. “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 brick-and-mortar to one that is a key part of the digital economy.”

“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,” said Manh Phan, co-founder and CEO of Rever.

VitaCapital previously invested in the local real estate market via VinaLand which by 2018 was fully divested and winding up.

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