Thailand real estate platform Baania.com has announced undisclosed funding to improve its “big data-based” property technology.
The significantly Thai language property and real estate marketplace and data analytics platform has secured an undisclosed investment from Krungsri Finnovate, the corporate venture capital arm of local banking major Krungsri, as well as state-owned PTT Public Company.
The Thai conglomerate SCG-backed venture fund AddVentures and 500 TukTuks, a local fund that invests in promising Thai start-ups, have also reported to have co-invested.
Baania has developed a real-estate database for consumers and for business operators requiring investment insights. It currently covers property in 15 provinces throughout Thailand.
The company claims that its platform offers information covering more than 13,600 projects, 2.2 million-plus houses, more than 27,000 house designs, has more than four million users and 700 million data points for consumer behaviour analysis.
Anchana Vallipakorn, the Co-founder and Chief Executive Officer of Baania, said: “In 2018, Baania aims to expand our real-estate database to cover 26 provinces across the country, increasing our user base to seven million and creating innovations such as ‘search by lifestyle’, a search for residences based on lifestyles, Bestimate, a house appraisal system and Baania Pulse, deep social listening, developed for those in the property industry.”
Krating Poonpol, Managing Partner of 500 TukTuks, said: “… we believe that Baania will leap forward and become the market leader soon.”
Who can argue with that?
Thailand is fast becoming a crowded market place in terms of property portals. If you were to add all the claims of user numbers by all portals and agency websites, it would seem half the population are using them on a regular basis.
With the likes of Singapore’s number one portal 99.co recently announcing an advertising tie-up for Thailand, and other overseas portals declaring their intentions to enter Thailand, existing portals must up their game and find ways to stand out in the eyes of property buyers and investors.