by Kristie Neo, published in Deal Street Asia
Singapore-based online property marketplace Ohmyhome has raised $2.92 million (S$4 million) in a Series A funding led by Golden Equator Capital. Other investors for this round family offices and individuals.
According to an official release, the proceeds will be used to strengthen its Singapore base and expand into Southeast Asia. Founded in 2014, Ohmyhome is an online platform targeting the property market.
It facilitates DIY transactions, fixed rate agent services, on-demand and mortgage and legal services, and aims to make these simpler, faster and more affordable. Ohmyhome is able to shorten the average selling time of a property in Singapore to 33 days. The current market average is 120 days.
Race Wong, COO and Co-Founder of Ohmyhome said, “We saw a gap in the real estate market where transactions are carried out in a traditional manner. The lack of expertise, information, and quality services opened opportunities for us to increase efficiency, save costs and execute transactions more easily. That was why we founded Ohmyhome to create a one-stop solution to make housing transactions simpler, faster, and affordable for all home owners and home seekers.”
As of September 2018, Ohmyhome has facilitated the transactions of more than 2,000 homes, comprising a combined value of over $620.82 million (S$850 million).