PropertyGuru raises $220 million from KKR and TPG Capital – Newest Information | Devices Now


PropertyGuru Group, a Southeast Asian on-line realty firm, has raised one other S$300 million ($220.four million) from its current traders KKR and TPG Capital, following its cancelled preliminary public providing (IPO) final yr.

“The extra investments from TPG and KKR will allow us to proceed constructing Southeast Asia’s property belief platform and speed up our momentum in key markets like Malaysia and Vietnam,” Hari V. Krishnan, its CEO and managing director, mentioned in an announcement on Wednesday.

The corporate scrapped its Australia IPO final yr due to market volatility. It had anticipated to lift as much as A$380.2 million ($279.6 million) within the itemizing.

PropertyGuru, launched in 2007, is predicated in Singapore and likewise operates in Vietnam, Thailand, Malaysia and Indonesia.

The corporate mentioned it should additional spend money on areas together with its new mortgage market and knowledge capabilities.

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