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Local start-up 99.co secures S$2.7 million of seed funding

Zafirah Salim | Jan. 30, 2015
Its investors include Facebook co-founder Eduardo Saverin and venture capital firm Sequoia Capital.


From left to right: Tan Kok Keong (CEO, REMS), Evan Chung (VP, DTZ), Darius Cheung (CEO, 99.co), Eduardo Saverin (co-founder of Facebook and investor of 99.co), Eugene Lim (KEO, ERA), Mohd Ismail (CEO, Propnex)

Singapore-based online property search portal 99.co - which was officially launched yesterday - announced that it has received new investments from Facebook co-founder Eduardo Saverin, and venture capital firm Sequoia Capital, bringing its total funding to S$2.7 million.

Alongside the launch, 99.co is introducing a new residential sales segment that will allow users to search for homes. By applying its ListRank algorithm to this new sales segment, users will be able to find better results in both rentals and for-sale property.

In its media statement, 99.co claims to be the first property search portal in Singapore to prioritise the end consumer experience. Unlike its competitors, 99.co prides itself in displaying unbiased search results - personalised to the query of the end user, and sorted by the quality of the listing data versus the promotional spend of the agents.

Commenting on the start-up's recent growth, Darius Cheung, CEO and co-founder of 99.co, said, "We really believe that the market needs a property search that prioritises the user - and the numbers show that more and more people on the search for the next home clearly prefer the way we cater to their needs with unbiased search results and genuine listings."

With the official launch and introduction of the entirely new residential sales segment, 99.co said that it expects to see even more growth in its traffic as the startup continues to innovate towards its goal of first becoming Singapore's number one online property portal by catering directly to its users.

 

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