Kindrik Partners is happy to have advised property technology company Propseller on its US$12 million series A round led by Vertex Ventures Southeast Asia and India.

Other participants in the round include existing investors Hustle Fund, Iterative, and Rapzo Capital, alongside new investors Partech, ICCP SBI, Vulpes Ventures and Redbadge Pacific. The fundraise also attracted investment from the co-founders of several prominent proptech companies, namely PropertyGuru’s Jani Rautiainen, Marta Higuera of OpenAgent, Steffen Wicker of Homeday and Flyhomes’ Tushar Garg.

Founded in 2018, Propseller has developed an end-to-end real estate transaction platform that has made transactions more efficient and data-driven for both buyers and sellers. Notably, the platform is able to tell users the likelihood of a successful closing at each step of the process.

Propseller plans to use its Series A funding to scale its business model, expand its offerings and enter overseas markets. To achieve this, it plans to significantly expand its current team of 50 employees by hiring 200 more people.

Partner Chris Wilson says:

“Buying a home is often the largest financial decision in a person’s life, and Propseller is revolutionising the way people buy and sell their homes by building a platform that prioritises efficiency and transparency. The company has modernised the traditional real estate agency and we look forward to seeing them bring these solutions to new markets.”