Interior Design Marketplace Atap.co receives investment from RHL Ventures - Reuters

 

Interior Design Marketplace Atap.co receives investment from RHL Ventures

Interior Design Marketplace Atap.co receives investment from RHL Ventures

Fri Feb 1, 2019 - 04:47am UTC

Atap.co

1/2/2019 – Malaysian interior design marketplace Atap.co said that it has secured an undisclosed amount of investment from RHL Ventures.

Atap.co plans to use the proceedings to solidify its market presence in Malaysia, which includes the development of a physical experience center in Petaling Jaya, Malaysia.

Commenting on the deal, RHL Ventures managing partner Rachel Lau said, “we decided to back Atap.co as they are helping to bring in much-need innovation in Malaysia’s interior design market.”

“Maosheng, Yao Han and their team are helping to highlight the breadth of talent possessed by our homegrown designers – which we consider as having the potential to stand toe-to-toe with their international peers.”

Founded in 2015, Atap.co aims to consolidate the fragmented interior design and architect market in Malaysia via a proprietary online platform that links them to customers looking to design their home and offices.

Besides being an online marketplace for anyone wishing to source and hire an interior designer, the platform also acts as a digital publisher for interior design and home & living content.

“In today’s market, those in need of interior design work would typically look to the internet only to find that their search lists are dominated by large and expensive firms that can afford to maintain an online presence,” said Atap.co Co-founder Shen Maosheng.

“Atap.co is therefore created to match up-and-coming interior design businesses in Malaysia with prospective clients leads, which our in-house technologies help verify to ensure that the leads are genuine and not automated,” he added.

From starting Atap.co with just two people, Shen Maosheng and Seow Yao Han have grown their team to 16 people comprising professionals within IT, sales and marketing, as well as an in-house content team.

Atap.co claims to have as many as 1,580 interior designers utilizing the platform, with their project and photo listings numbered at 2,481 and 26,911 respectively.

Over the past two years, Atap.co – via its Leads Marketplace – has listed nearly 3,000 renovation jobs with a total budget value of MYR 415 million (about US$101 million). During this period, the website has drawn in an average monthly site visitors of 480,000.

With the backing from RHL Ventures, the company’s experience center in Petaling Jaya aims to raise the level of immersion for prospective interior design customers.

The venture is part of the company’s strategy to establish its position in Malaysia. It aims to first extend its interior design network in the Klang Valley and Johor before entering Penang in the immediate future.

In the long term, the startup is looking to expand its influence in Southeast Asia.

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