Vietnamese property app Hoozing gets Smilegate backing

Founded in 2015, Hoozing operates an online marketplace where users can find and rent long-term accommodations. With a community-based model, users can discover available spaces from current tenants who are about to move out.

The company said it aims to digitalize real estate transactions in Vietnam to make renting accessible, trustful, and hassle-free. However, it acknowledges that people tend to save their cash rather than spend it on property during a pandemic.

“However, the trend of digitalizing property transaction is on the rise, and Hoozing will use the fund to design the tech platforms to help the market with this demand,” the company told Tech in Asia.

Hoozing is now launching an app, which uses the company’s data bank and agent network to help landlords and customers find the right deals. It will bring together more than 50,000 properties and 7,000 agents from the Hoozing ecosystem, according to a statement.

With the app, customers can search, do online visits, and get insights from agents and market data analysis. It will also have features such as smart search, 3D viewing of properties, and smart price comparison.

The startup said it also plans to expand in Ho Chi Minh City and focus on areas where there’s real customer demand.

Previously, Hoozing secured seed money from Southeast Asia-focused VC firm Expara Ventures. It also joined the TV show Shark Tank Vietnam in 2018.

Last year, another local proptech player, Rever, received funding in a US$2.3 million round backed by GEC-KIP Technology and Innovation Fund. The startup, which is also backed by VinaCapital Ventures, aims to expand across Vietnam as well, starting with key markets such as Hanoi.

Source: Tech In Asia