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Cambodian property portal KhmerHome.com backed by 500 startups

By Victoria Haviland 0 Comments NEWS, News

Cambodian property portal KhmerHome.com 500 startups

KhmerHome.comKhmerHome.com is claiming to cover more than 120 property agencies and 600 property agents listed on its platform

Cambodia-based Mekong Classifieds' property portal, KhmerHome.com has yet to disclose the amount of funding it recently acquired from 500 startups but it is predicted that the seed funding is in the six-digits.

Co-founder, Mean In commented on the funding: “We are not only the first to offer a real estate platform for locals, made by locals, but also the first to offer a localized real estate management system and introduce a property valuation app in Cambodia. This funding by 500 Startups, which is the second in the country, validates our startup idea and will be used to upgrade our current products and mobile applications to establish a market leadership as we are looking to monetize through a subscription and transaction-based revenue model. Some of our partner agencies are currently using KhmerHome’s management system to close deals worth millions of dollars."

Four brothers founded the platform in 2017. Mean, Visal, Vichea, and Vichet In created KhmerHome.com to address the traditional techniques many agencies in Cambodia still rely on. Whether that be excel sheets or a room of file cabinets, the techniques are outdated and many agencies aren't using a modernized property management system to facilitate their listings and clients.

Three of the brothers —Visal, Vichea, and Vichet— have also co-founded Mediaload, or Khmerload, a digital media in both Cambodia and Myanmar with 18 million followers.

As of right now, KhmerHome.com claims to have more than 120 property agencies with a total of 600 property agents. KhmerHome.com has previously acquired pre-seed funding from Australia's newer markets specialist Emerging Classifieds Ventures.

Cambodia's real estate industry is on the rise in regard to increasing urbanization and young people's growing housing demand. The Cambodian Ministry of Land Management, Urban Planning and Construction have reported that last year, 3,052 construction projects were approved worth US$6.43 billion.

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