Feedback Ventures Invests, Elevates Soho.com.au to $20M Valuation

Soho.com.au, an AI-powered real estate discovery app, has secured a $750,000 equity investment from Singapore-based proptech venture capital firm Feedback Ventures. This funding round has propelled the valuation of Soho.com.au to over $20 million. 

Despite not being part of its 2023 capital management plans, Soho.com.au, the real estate discovery app, has secured a $750,000 funding boost led by Investible, a prominent investment club. 

Established in 2018, Soho.com.au has quickly become a prominent player in the real estate industry, facilitating connections between property owners, agents, and potential buyers or renters. Jonathan Lui, co-founder of Airtasker, Soho.com.au, utilizes artificial intelligence to personalize real estate searches, employing a “Tinder for real estate” approach. 

The funding round, led by Investible, adds to the $1.65 million previously raised by Soho.com.au. Since its launch, the app has gained traction, with over 35,000 properties listed and more than 1,000 real estate agents actively using the platform. 

“Soho’s growth has been amazing in the past year, and with Feedback Ventures now coming on board as a lead investor, we know we’re bringing on a great capital partner with clear conviction on spearheading the AI evolution in real estate,” Lui stated.

As 2023 concludes as one of its strongest years, Soho is gearing up for an exceptional 2024 by launching various partnerships and AI-driven products tailored for property seekers and real estate agents. 

The Sydney-based proptech firm leverages artificial intelligence to customize real estate searches, providing users with an immediate list of properties meticulously matched to their specified criteria. This strategic use of technology enhances the user experience, making property discovery more efficient and personalized.

Feedback Ventures partner Ethan Cheng highlighted the built relationship with Jonathan Lui over recent years, expressing confidence in providing valuable support to Soho’s global ambitions. 

Soho is planning a more extensive Series B round in 2024, aiming to accelerate its presence not only across Australia but also in other markets. The collaboration between Soho and Feedback Ventures aims to leverage AI technology to transform the real estate sector.

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