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Real Estate Technology Platform Homebase Raises USD 7-figure Pre-Series A Round From Leading VCs in Vietnam and Silicon Valley, on the Back of Growing Demand for Innovative Home-ownership Solutions in Vietnam

Homebase is seeing massive interest from homebuyers in its home-ownership solutions, driven by appreciating property prices and the growing interest in alternatives to traditional property renting and buying options in the wake of the COVID-19 global pandemic.
Proceeds will go towards further developing Homebase’s proprietary technology and financing solutions to empower aspiring homeowners in Vietnam and across Southeast Asia.
Investors in the latest round include leading institutional Venture Capital funds from Vietnam, Silicon Valley, and Singapore, as well as strategic angel investors.

HO CHI MINH CITY, VIETNAM, December 15th 2020 - Homebase, a real estate technology company that provides innovative home-ownership and financing solutions across Southeast Asia, today announced the successful closing of a USD 7-figure pre-Series A round. Investors in the heavily oversubscribed round include Vietnam’s VinaCapital Ventures, Silicon Valley-based venture fund Class 5 Global, Pegasus Technology Ventures, 1982 Ventures, and Antler. Troy Steckenrider III, ex-COO of Zerodown, a US-based real estate technology company that raised $136M in 2019; and Darius Cheung, Founder & CEO of 99.co, the largest property portal in Singapore and Indonesia, also participated in the round.

“Homebase offers home-buyers and investors across Vietnam and Southeast Asia superior alternatives to traditional financing options, with our flexible financing plans personalized by technology,” co-founder and COO Phillip An said. “In the wake of the COVID-19 global pandemic, we have seen a significant increase in demand for our innovative home ownership solutions. This latest round reflects the confidence that investors share in our proven solutions and steady execution. We look forward to working closely with partners in the property community including banks, real estate agencies, and developers, to uplift the sector with more innovative, compelling, and empathetic solutions for those who aspire to own a home.”

Real estate investment across Asia Pacific reached $35B USD in Q3 2020, as volumes increased 35% quarter-on-quarter. In Vietnam alone, the average apartment price increased 22.7% in Q1 2019 in HCMC, according to Jones Lang LaSalle. In addition, the company is set to utilize the funds to further develop its proprietary technology, launch further real estate financing products, and expand to new markets.

Trung Hoang, Partner at VinaCapital Ventures, Vietnam’s largest venture investment firm, said, "The mass-market of the Vietnamese middle-class are young, eager to own property, but don't have sufficient funds saved up to get started on their homeownership journey. Yet, housing prices are increasing significantly every single year - creating a huge market potential for real estate financing in Vietnam. With their global exposure and deep backgrounds in real estate and financial services, the Homebase team is uniquely suited to address this problem in Vietnam by offering personalized Rent-to-Own financing and other innovative ownership solutions. We have seen the team prove tremendous growth even despite the disruptions caused by Covid-19 and we look forward to being a part of Homebase's continued success in the Vietnam market and beyond." VinaCapital Ventures is a USD $100 million Vietnam-focused venture capital platform that invests in and builds world class technology companies that can make a significant impact on the lives of people in Vietnam and Southeast Asia.

Joel Ayala, Co-founder and Managing Partner of Class 5 Global said, “We believe technology is unlocking tremendous value in real estate across Southeast Asia and we are excited to welcome Homebase to our growing proptech portfolio that includes TrueHome and Nomad Homes. As we’ve seen first-hand how platforms like Opendoor and Divvy have disrupted seller and buyer financing in the U.S. and see an even greater need for these solutions in emerging markets, we firmly believe that Homebase has potential to be the homegrown champion in Southeast Asia’s real estate financing market.” Based in Silicon Valley, Class 5 Global invests in next generation emerging market entrepreneurs.

COVID-19 has revealed a need for superior alternatives to the traditional modes of renting and buying, as consumers demand more flexibility while seeking to build equity in assets uncorrelated to their primary means of employment. Housing prices in countries like Vietnam have risen as the Southeast Asian real estate markets continue its recovery post-COVID-19. Supported by a strong middle class and a young and aspirational workforce, the Vietnam property market continues to be among the most attractive real estate investment and ownership destinations globally.

Homebase co-founders JunYuan Tan (CEO) and Phillip An have strong track records in the financial services industry and in building technology companies across Southeast Asia and the United States. Prior to Homebase, JunYuan, a serial entrepreneur, was founder and CEO at Reprice Technologies and Atlantis Labs. Phillip previously spent time in Investment Banking at Goldman Sachs, and Management Consulting at McKinsey & Company.

Homebase last announced an oversubscribed Pre-Seed financing round in February 2020. Notably, Brian Ma, a co-founder of alternative home-ownership start-up Divvy Homes that raised a $43M Series B round in 2019 led by Andressen Horowitz and Singapore sovereign wealth fund GIC, participated in the round.

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About Homebase

Homebase is a real estate technology company that provides innovative home ownership and financing solutions across Southeast Asia. Currently available in Vietnam, Homebase is backed by VinaCapital Ventures, Class 5 Global, Pegasus Technology Ventures, 1982 Ventures, Iterative VC and Antler, as well as the founders and executives at disruptive real estate financing companies including Opendoor, Zerodown and Divvy Homes. Homebase was founded by JunYuan Tan and Phillip An, and comprises of vetern real estate investors, computer scientists, and serial entrepreneurs hailing from organizations like Goldman Sachs, McKinsey, and LinkedIn.

Our mission is to make real estate financing and home-ownership accessible to all.

For more information, please visit us at: http://homebase.com.vn/