gets fresh 7-digit funding

YANGON, 18th February, 2018 – (Myanmar’s # 1 Property website) recently secured another major 7-digit funding deal. Although the actual size of the investment is undisclosed, the funding was led by a major Emerging markets-focused fund out of London who was an existing investor, with Vostok New Ventures from Sweden and ShweProperty Managing Director Kevin Goos also participating in the round.

Vostok New Ventures Ltd is a ~USD 878M (net asset value) investment company listed on the NASDAQ Stockholm stock exchange (Sweden), that uses their experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation, with a focus on companies with network effects like an online marketplace, particularly in emerging markets worldwide. Vostok has a proven history of only investing in #1 players in emerging markets, including Avito (Russia’s leading online classifieds platform), (#1 property portal in UAE,MENA), Hemnet (Sweden’s leading property portal), Rozee (leading job site in Pakistan), Wuzzuf (leading job site in Egypt).

Vostok CEO, Per Brilioth commented on their recent investment “We are delighted to be investing in the #1 Property Portal in Myanmar. They have strongest management team for online classifieds in the country, and their business traction is truly extraordinary. Their strategy, professionalism and execution ability is first rate in what they have achieved. We look forward to working with the ShweProperty team to further grow and support their business.”

ShweProperty’s other shareholders include Justin Sway (ex. FastTrack – #1 Recruitment Software in Australia, NZ), Jonah Levey (ex. VietnamWorks #1 Job Site), Gilles Blanchard (ex. in France and Chairman in Pakistan) and Kaung Thu Win (Founder and Director). It’s a combination of both private and institutional investors, which includes some of the most successful online classifieds and property portal entrepreneurs and investors in the world. The top quality line up of shareholders is a real testament to the confidence they have in ShweProperty’s continued success. All investors are committed, ready, willing and able to participate in follow up rounds if necessary in the future.

The first round of seed funding for ShweProperty was in May 2015 when Justin Sway invested an undisclosed six-digit sum. This was followed by another un-disclosed Series-A round of funding by institutional investors and Gilles Blanchard in 2017; then another major 7-digit funding round just announced. This new round of funding is big for ShweProperty, especially as it is the largest single round of funding ever raised for any online property portal or classifieds business in Myanmar.

As the first real estate and property portal in Myanmar since 2011, the company has acquired significant value and brand loyalty from consumers, agents and developers, resulting in extraordinary high traction. This combined with a solid, transparent and auditable financial and business operation, which can be difficult to find in frontier markets, helped them to succeed in obtaining new funding in under 3 months.

Compared to other property portals in the country, ShweProperty has the highest relevant traffic, views and leads per month than any other website in Myanmar. Connecting property buyers, renters and sellers, with over 100,000+ up-to-date property listings on the site. The company works with all the top developers and real estate agents in Myanmar and has successfully taken the clear lead in the local market.

ShweProperty is led on the ground in Myanmar by experienced CEO and Myanmar born – Justin Sway, MD – Kevin Goos (ex. CEO Century 21 Cambodia) and Founder and Director – Kaung Thu Win.

“We are very grateful to be working with our very loyal clients in Myanmar. With the latest round of funding, we intend to increase the incredible traction we have already achieved, and focus on increased operations in all facets of our advanced Property Portal business model. The team is 100% committed to our future success, and I’m very excited to be personally investing financially in the business too.” said Kevin Goos.
ShweProperty is also the exclusive partner in Myanmar to Property Guru and the Asian Property Awards. (Asia’s leading Property Portal). This additional recognition of their leading position and partnership allows them to deliver even more value and products to Myanmar‘s developers throughout Southeast Asia.

ShweProperty CEO Justin Sway commented on the new investment “The ShweProperty team is doing an outstanding job and it’s great to see our existing UK Institutional investor, Vostok New Ventures, and Kevin investing in this round and having total confidence in the business. It’s another real testament to our # 1 market position, phenomenal growth, and continued success. This combined with our experienced shareholder base and strong management team, will help us to continue to lead and shape Myanmar’s Real Estate industry. We are very delighted to welcome Vostok New Ventures to the ShweProperty family, and we look forward to working with them and the other very experienced shareholders to continue to dominate the Myanmar market.”

Source : ShweProperty Media Release