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FazWaz accelerates growth in SE Asia property market with latest funding round

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FazWaz accelerates growth in SE Asia property market with latest funding round | The Thaiger
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FazWaz, a leading real estate transaction marketplace headquartered in Bangkok, has raised a new round of funding to accelerate growth into 2021. Serial investor and Online Marketplaces Chairman Simon Baker via CAV Investment Group says he’s been closely following FazWaz for the last 3 years since they first attended our Property Portal Watch Conferences in 2017.

“I believe that their mission to use technology to streamline the end-to-end real estate transaction process is the future for real estate sales. Brennan Campbell and his team are very well positioned to be a global leader in real estate e-transactions.”

The latest round of funding will be used to invest further into the marketing, data and technology to ultimately drive FazWaz brand awareness and grow its market share. FazWaz had gone against the traditional startup route and remained 100% bootstrapped for its first 4 years of business while showing 100% growth year on year.

Also participating in the funding round for FazWaz were 500Tuk Tuks, Aries Capital (Indonesian family fund), and Alpha Founders Capital.

Having been launched just under 5 years ago by expat entrepreneurs Paul Trayman, Brennan Campbell and Michael Kenner, the brand has expanded across south east Asia with the latest country launch being Cambodia in November. The portal is looking to digitise property transactions in the country and can count some 500,000 visitors per month to its main Thai site having overtaken some big names to rank in the top 3 property portal sites in the country.

Brennan Campbell, Founder & CEO of FazWaz, says that we now live in an on-demand, digital-first society where users want efficient access to products and services at the click of a button.

“The real estate industry is no different and users are demanding a better online search and offline service experience. As a mission-driven business, the funding and expertise brought on in this round of investment moves us closer to our goal of empowering consumers to make more efficient and informed real estate decisions.”

FazWaz is one of an increasing number of property marketplaces with an end-to-end model that seeks to bring transactions online with users able to make an offer directly on the platform.

Johannes von Rohr, General Partner at Alpha Founders Capital says that Thailand’s proptech (property technology) scene is seeing an exciting amount of activity with two well-known major M&A deals in 2020, one being for Kaidee.com and another being Hipflat.com.

“At the same time, a large amount of investment pours into startups tackling the fragmented real estate market. FazWaz re-envision the real estate sales process with technology. We are excited to back FazWaz as they now enter into the next significant phase of growth.”

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7 Comments

7 Comments

  1. Avatar

    Alte Ledertasche

    Saturday, December 5, 2020 at 1:42 pm

    Fazwaz…one of the most expensive portals in Thailand.

    I am following the property market since around 10 years in LOS. If you compare listings of properties in several portals same properties are listed more expensive on fazwaz than in others.

    Useless and overpriced portal. But they have a good looking website though.

    • Avatar

      Kerry Trepin

      Thursday, December 10, 2020 at 9:40 am

      They have a “Make an offer” feature – which allows buyers (like yourself) to offer directly to owners on properties for up 25% less than their asking price – I think that’s quite helpful in today’s uncertain market…

      • Avatar

        Alte Ledertasche

        Thursday, December 10, 2020 at 6:11 pm

        Useless feature. As said. Property on Fazwaz is anyway overpriced than the same properties advertised on other portals. And as a buyer I would make an offer anyway during the viewing where I request the property owner to be present, for this I not need a website feature. Despite that I would not buy any property in Thailand anyway.

  2. Avatar

    Mr cynic

    Saturday, December 5, 2020 at 5:27 pm

    Is this for real or a spoof?
    Even Zeek Ziegler would have found it difficult to pick through this load of BS!
    I would not trust this company with 1 single baht.
    Thought the boiler room days were ancient history.

  3. Avatar

    preesy chepuce

    Saturday, December 5, 2020 at 11:29 pm

    Sounds like fantasy land… who’s buying, apart from no-one?! Prices are in free-fall across Asia, because they’re inflated. Houses foreclosed on by banks for sale everywhere for all to see, it’d be a buyer’s market, if there were any buyers, but there aren’t…

  4. Avatar

    Toby Andrews

    Sunday, December 6, 2020 at 8:58 am

    Well Alpha Capital is excited to back FazWaz.
    I am excited too.
    FazWaz will be excited.
    Anyone else excited?

    • Avatar

      preesy chepuce

      Sunday, December 6, 2020 at 11:33 pm

      Lol. In the famtasy land of estate agents, the prices always rise forever, “pent up demand” is always exponential, you are always urged to “buy now before it’s too late”, and they’ll be shouting that out during the apocalypse as skycrapers fall into seas of molten lava.

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Thailand

More than a third of Thai tourism-related businesses closed down

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More than a third of Thai tourism-related businesses closed down | The Thaiger

A Tourism Authority of Thailand survey, conducted between January 10 – 12, indicates that more than a third of the country’s tourism-related businesses has already shut up shop and gone out of business. An enormous majority were begging for TAT and government assistance fearing that they are unable to hand on much longer.

1,884 tourism businesses in Thailand were surveyed about their situations and how they were coping with the long-term closure of the Thai borders and the local restrictions on travel.

The businesses were in the areas of accommodation, travel firms, restaurants, car and bike rentals and public transport businesses.

34.7% said they had already shut down or gone out of business.

That the TAT admit that more than a third of their front-line organisations have gone to the wall already is a big turn-around from the perennially optimistic tone and often cringe-worthy predictions. The TAT and the Thai Minister of Tourism and ports are now staring down the barrel of an industry, not only diminished, but changed forever after decades of stunning growth.

At the start of the week the Tourism and Sports Minister claimed that 10 million tourists would start arriving on Thailand’s shores from the middle of this year for the rest of 2021. Just 3 months ago he also predicted that domestic tourists would undertake some 10 million trips a month during the forthcoming high season (December to February).

With only hope to back up his speculative predictions, the Minister was hopeful the stimulus measures approved by Cabinet will boost tourism numbers and help off-set some of the economic devastation caused by the closure of Thailand’s international borders.

This week’s prediction was that tourists, foreign and local, would be spending 1.2 Trillion baht on the battered tourist industry during 2021. He failed to provide details about where these tourists would come from or where they would visit during their stays – stays that still have to begin with a 14 day mandatory quarantine.

The only good news is a further 65% of businesses that continue to struggle on, waiting to see how 2021 unfolds and the effect of the roll out of Covid-19 vaccines, that will allow countries to open borders and a greater level of travel freedoms once again.

The break out of a cluster of infections in the Samut Sakhon province, just south west of Bangkok, and now spread to the majority of other Thai provinces, on December 20, forced the government to restrict inter provincial travel. The not-quite-a-lockdown that followed severely dampened the travel plans of locals and foreigners inside Thailand over the traditional December/January holiday season. This week the Bangkok Metropolitan Authority loosened some of the earlier restrictions and allowed some formerly closed businesses to re-open.

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Thailand

Government is to allow people to use “legal” parts of cannabis in business

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Government is to allow people to use “legal” parts of cannabis in business | The Thaiger
PHOTO: The Thaiger

With intentions to promote cannabis as the country’s potential new cash crop, the government is preparing guideline to allow people to produce, sell or own cannabis and hemp. The permitted businesses, including textile, pharmaceutical, and cosmetics will be able to register to receive FDA permissions from January 29.

According to the FDA secretary-general, leaves, stalks, stems, roots, flowers, and seeds are not in a list of legal parts as they have high drug content (is there anything left?). Individuals are still not allowed to grow both cannabis and hemp without authorisation. Import and export of hemp must seek permission from the FDA Office as well.

Interested applicants in Bangkok can register at the FDA Office, while those in upcountry can contact the provincial public health offices. Courses and training about how to start a business using marijuana plants will be provided under the collaboration of the Education Ministry and Public Health Ministry.

However, a traditional medicine expert with Chaopraya Abhaiphubejhr Hospital, suggests that 6 groups of people should avoid food and drink with marijuana, including those with liver and kidney problems, heart disease patients, people aged below 25, pregnant women, breastfeeding mothers, and those taking stimulant medications.

SOURCE: Bangkok Post

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Thailand

Myanmar cancels Thai investment in the Dawei Special Economic Zone

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Myanmar cancels Thai investment in the Dawei Special Economic Zone | The Thaiger
PHOTO: Environment Justice Atlas

The Dawei Special Economic Zone Management Committee has announced the cancellation on the deep seaport project contract with Italian-Thai Development (ITD), one of Thailand’s leading industrial firms, by saying that they “lost confidence” in the company after long, controversial issues.

The Dawei Special Economic Zone Management Committee said that the Thai company has caused them “repeated delays, continuing breaches of financial obligations under the contracts and the concessionaires’ failure to confirm their financial capacity to proceed with development”.

They say they will look for new development partners to continue the projects. Currently, there are still no comments from ITD.

The Dawei Special Economic Zone is Myanmar’s initiative to encourage international investments into the country, but the project has been delayed because of funding problems and local opposition.

SOURCE: Thai PBS World

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