by Melissa Chan, Published in Vulcan Post
The PropTech industry in Singapore is heating up, indeed.
Today, PropTech marketplace Ohmyhome announced that they have just raised S$4 million Series A funding, led by Golden Equator Capital.
Launched in September 2016 by sisters Rhonda and Race Wong, Ohmyhome sets out to make housing transactions “simpler, faster, and more affordable” by facilitating DIY transactions, agent services at fixed rates, and on-demand mortgage and legal services.
According to the press release, Ohmyhome was named “Singapore’s No.1 HDB app” in January 2017.
Said Rhonda Wong, CEO and co-founder of Ohmyhome, “After seeing a strong adoption for our services, our focus now is to further drive growth in Singapore and expand into the neighbouring markets.”
Added Race Wong, COO and co-founder, “As other industries embraced innovation, we saw a gap in the real estate market where transactions are carried out in a traditional manner. […] That was why we founded Ohmyhome to create a one-stop solution to make housing transactions simpler, faster, and affordable for all homeowners and home seekers.”
Daren Tan, Managing Partner at Golden Equator Capital shared: “The market average selling time for property in Singapore is 120 days. At Ohmyhome, the fastest selling time is in one day and average of 33 days.”
Currently, Ohmyhome has offices in Singapore and The Philippines, and with its fresh round of funding, plans to deepen its presence in Singapore and plans to expand into Malaysia and Thailand.