MANILA, Philippines – ZipMatch, an online real estate marketplace, closed $2.5 million in Series A funding, allowing it to expand across the Philippines and Southeast Asia and further work on products meant for home buyers and brokers.
The first round of investment was led by Singapore-based venture capital firm Monk’s Hill Ventures. The funding was also participated by existing investors 500 Startups.
In an interview about the investment round, Kuo-Yi Lim of Monk’s Hill Ventures said, “the team members bring different facets of real estate and Internet expertise to the table. They are biased toward action, so we’re confident that this team will be able to execute quickly and take advantage of the opportunity not only in the Philippines, but in the broader Southeast Asia region and beyond.”
This is one of Monk Hill’s first investments as a firm, and is also Monk Hill’s first ever investment in the Philippines.
Lim will join the ZipMatch board following the investment. Monk’s Hill Ventures is also led by managing director Peng Ong and partner Stefan Jung.
What is ZipMatch?
ZipMatch provides prospective buyers with a number of services that aim to make the research behind buying a home easier. It presents curated information regarding various properties, which homebuyers can access through an interactive page.
The property pages have overviews; available listings and photos; virtual tours of the properties; scouting; and user reviews.
ZipMatch also provides consultations about properties, with a ZipMatch concierge stepping in to help assess their budget, the type of home the buyers want, as well as other pertinent details to match them with the right broker and home for them.
With the Series A funds, ZipMatch can scale their processes to help more homebuyers across the Philippines, and even Southeast Asia in the near future.
ZipMatch Chief Revenue Officer and Co-Founder Chow Paredes said, “Having updated, reliable data in an online real estate marketplace is a big challenge, and I think we have made strides by putting out a product that is unique.” – Rappler.com