Vietnamese Proptech Startup Homebase secures $30 million funding

Vietnam-based proptech startup Homebase has recently raised US$30 million in equity and debt funding in a round co-led by Y Combinator, Goodwater Capital, and Partech Partners.

The funding round also saw participation from Emles Advisors and Fundamental and Ace and Company along with CEO of Y Combinator, Michael Seibel, and operators and executors from Opendoor, SoFi, Republic, Instacart, Microsoft, Binance, and Abu Dhabi Investment Authority.

The startup plans to use the fresh funding to expand its market leadership in the proptech industry in the Southeast Asia region and take a step closer towards its mission of empowering homeownership for 100,000 families across the region.

Homebase is also gearing up to further develop its proprietary technology, increase its talent base, and launch additional partnerships with real estate agents and developers.

“Rising prices, strict mortgage criteria make buying a home extremely difficult in Southeast Asia- Homebase is creating a new financial path and for the first time, giving underserved consumers a new way to own a home,” said Michael Siebel, CEO of Y Combinator and Homebase investor.

The startup had raised $125,000 from Y Combinator, a renowned US-based accelerator in March this year.

Last year, in a pre-Series A round Homebase had raised an undisclosed amount to develop new alternative financial solutions to serve homeowners in the country.

This funding has come at a time when the Vietnamese proptech market is increasingly catching the eye of investors.

About Homebase

Founded in 2019 by Junyuan Tan and Phillip An, Homebase was originally launched in Singapore but then they decided to focus on Vietnam.

The startup empowers the homeowners to buy, sell, and own homes in ways that work well for themselves. Homebase aims to make homeownership accessible to consumers in underserved market segments.

Homebase is backed by many other investors including Class 5 Global, VinaCapital Ventures, 1982 Ventures, Pegasus Technology Ventures, founder and CEO of 99.co, Antler and Darius Cheung; co-founder and ex-CEO of Divvy Homes,Brian Ma; ex-CEO of Zerodown,Troy Steckenrider III.

The management team of the startup consists of diverse professionals across real estate, financial advisory, management, consulting, technology, and capital market.

The Ho Chi Minh city-headquartered startup operates in most major cities of Vietnam besides the smaller provincial areas in Vietnam