PropTech company targeting global expansion? FazWaz raises Pre-Series A
FazWaz, a PropTech company focused on making real estate transactions cheaper, simpler and more efficient announced today that is has secured an undisclosed 7 figure USD amount in a pre-series A round led by a Singaporean group.
The funding will enable the FazWaz Group to expand its market share in Thailand, and continue its overseas expansion into the UAE. The company which launched in 2015 has seen unprecedented growth due to its core values based around simplicity and transparency.
According to CEO Brennan Campbell, “The real estate ecosystem in emerging markets is rapidly changing. The majority of PropTech companies do very little to add value to the end consumers of real estate and are too focused on squeezing advertising revenue from agents and developers alike”.
FazWaz is taking a consumer first focused strategy and this has proven to be vital in reshaping the way people transact in real estate.
FazWaz is continuing to build an end-to-end technology platform that services agents and their clients through every step of the real estate journey. More agents are now moving to join the FazWaz network and the network is opening up to all agencies by the first quarter of 2020.
Paul Trayman the Chief Operating Officer of the group states “the expansion into the UAE is natural movement for FazWaz. The development of consumer focused PropTech in such a transactional market has been limited, and hugh potential exists for companies with our unique proposition”
FazWaz is already planning its Series A, looking to raise $5 million USD, towards the start of 2020. Unlike the majority of PropTech companies, FazWaz has maintained profitability since inception and this model will allow FazWaz to penetrate into other Southeast Asia markets, replicating its model.
