Vietnam-based home financing start-up, Homebase, has recently raised funding of $30 Million in a series A funding round led by multiple investors, including Ycombinator, Goodwater Capital, Emles Advisors, Partech Partners, and Fundamental. This start-up provides strong support for people in Vietnam to buy or sell the property and real estate as per homebase 30M Series ycombinatorshutechcrunch.
Homebase was founded in 2019 in Ho Chi Minh City of Vietnam by Junyuan tan and Philip. It is a virtual platform for providing facilities such as buying and selling real estate, properties, and other investment and finance services as well. The company provides contracts ranging up to ten years and works as an investor in the process of buying real estate. The start-up has clients all over Vietnam providing them. The client only has to pay some percentage of the total amount fixed for the property they decided to buy while the rest of the payment is being made by Homebase. You will have full rights to your home whether you want to rent it or not. You will always have the option to leave the property if you want and till then you have to pay a definite amount of the total to Home financial start-up, Homebase. The company was started with a vision to help people buy their dream homes even if they don’t have full money at the time. The entire process depends upon the duration of the contract. Their clients include investors as well as real estate buyers for living purposes. Buying a home with this minimal upfront fee for clients has become very easier and more accessible with the help of these start-ups. With the excellent services provided, the start-up has won multiple awards such as Top 50 prop-tech companies of the world, and also came under the top 10 emerging companies in the Asia-Pacific region. According to CBRE, a consulting firm on real estate and properties, an upsurge of up to 17% can be seen in the previous years for the prices of properties in Vietnam, which is a remarkable thing to touch.
Chief Operating Officer, Philip said that the problem of buying real estate is very serious in Vietnam and they are transforming the ways to make this a wholly digital process by eliminating any hustling physical process. The Chief Executive Officer expressed his feelings about real estate and investment and said that it is the most common and profitable form of investment and people should consider investing in the same. According to him, during the period of the pandemic, people invested more in stocks but real estate is also a benefitting category to invest their money. He said that with the help of this recent funding, the company will develop asset valuation and proper management of the properties bought for the deserved valuation. To reduce the hassle in traditional practices of buying real- estate in Vietnam, the start-up is moving forward.
With this $30 Million funding, the company will focus on improving its connections with real state sellers and will broaden its customers by targeting wider areas and cities other than where it is currently operating its functions. However, currently, the start-up doesn’t have any plan to expand its services outside Vietnam and will be focussing on Vietnam only till an update from their side, however, the demand is very much for their services in countries such as Thailand and the Philippines. Also, they will be moving forward on the path of a one lakh client base for delivering personal homes in Vietnam. Gradually, they will be increasing the overall efficiency of the process.
Y combinator’s CEO Michael Siebel said that Homebase is paving a new way for the people of South East Asia to buy property and invest in real estate. The entire process was not so easy due to the paperwork and increased prices. According to him, Homebase is among the top companies in Vietnam that provide these mindblowing services to their clients. Ycombinator is an America-based start-up providing finance and investment solutions to small-scale start-ups, helping them to grow further in the market. It was founded in 2005. Other investors include Good water capital which is a venture capital firm providing investment services in California, U.S.A. Emles Advisors is also an investment and asset management firm. Fundamental is a venture capital funding company that majorly deals in areas such as construction and architecture. Last but not least is Partech Partners which is a digital investment firm located in Paris.
This $30 Million funding round is not the only round raised by the company. Previous investors of the start-up include Vina Capital Ventures, Antler, 1982 ventures, and Steckenrider. On 15 December 2020, a seed funding round was raised by some of the investors. The actual amount of the round was not disclosed by the company.
Homebase is growing at a commendable pace with the pronounced services and assistance. It has already become one of the top companies in Vietnam on the side of real estate offerings. All we have to see is with this new funding, how much time will it take to consider more beneficial changes and upliftment into services offered?