Leading Myanmar property portal, ShweProperty.com, has secured a major Series-A funding deal led by institutional investors for an undisclosed amount.
The portal is led by CEO Justin Sway and MD Kaung Thu Win, and connects property buyers or renters to sellers, with over 60,000 up-to-date premium property listings on the site.
It received its first round of seed funding in 2015 when Sway invested an undisclosed six-digit sum.
As the first real estate and property portal in Myanmar since 2011, the organisation has acquired significant value and brand loyalty from consumers, agents and developers.
Kaung Thu Win says the portal is happy with the results of its Series A funding round.
“We are very pleased with our latest round of funding. It will help us achieve our dream to continue to be the #1 Property Portal in Myanmar, connecting buyers, sellers and renters in a central site to meet all their needs.”
The portal is also the exclusive reseller partner in Myanmar to Property Guru and the Asian Property Congress and Awards. This recognition and partnership allows Shwe to deliver even more value and products to Myanmar‘s Developers, throughout Southeast Asia.
ShweProperty CEO Justin Sway said the portal's new investors bring a particular set of expertise to the table.
“I’m delighted to welcome our new investment partners; it’s a testament to the extraordinary results our team have so far achieved," Sway said.
"Our new investors bring a wealth of knowledge and IP, with a proven track record in successful property portals globally, which when combined with our strong, local and proven international business expertise, will cement us as the leading player in the property portal space in Myanmar.
"The ShweProperty team are doing a phenomenal job in all areas of the business, and they are exceeding all our expectations in terms of traffic, leads, client satisfaction and monetisation.”