Ohmyhome, a Singapore-based property platform is boosting its R&D capabilities specially in data-matching technology to fast-track the closing of property deals on its platform after raising $5 million in its extended Series A funding round.
The funding round was led by local investor Swettenham Blue, the family office of the Tay family, which is behind OG department stores in Singapore. It raised the startup’s valuation to $45 million, twice its valuation from the previous Series A fundraise led by Golden Equator Ventures.
Founded in 2016 by sisters Rhonda and Race Wong, Ohmyhome is Singapore’s leading property transaction ecosystem. It claimes to be the most highly-rated property agency with outstanding customer satisfaction, garnering over 4,000 5-star reviews.
The platform connects buyers and sellers directly at no cost. It also boasts features such as ‘ShoutOut’ and ‘Open House’ to enhance the overall user experience. It operates on a hybrid model — a do-it-yourself (DIY) platform and fully-fledged agency services.
“By constantly advancing our technology, we revolutionise property transactions through simplifying and improving the user experience of our clients,” the startup said on its website.
Ohmyhome said it will use the fresh capital to enhance its data-matching technology across its Singapore, Malaysia and Philippine markets. This data matching advantage has enabled the company to close property deals in Singapore 2x faster than competitors in the past 4 years.
The company’s database handles around 175,000 transactors per month, allowing it to secure stronger prices and speed for its customers’ property transactions.
“Our core mission is to help our customers transact as hassle-free as possible, at the best price. We have stayed true to our mission and we look forward to greater enhancement in our technology to further speed up the pace of transactions,” said CEO Rhonda Wong. “Though we are leading in this area, I feel that we are only getting started. We are excited about the projects in our pipeline.”