Propseller, a Singapore-based real estate agency that combines a tech platform with in-house agents to close transactions more quickly, announced today it has raised $1.2 million in seed funding.
The round included investment from Iterative; Hustle Fund; XA Network; Rapzo Capital; Lazada co-founder Stein Jakabo; and Dot Property founder Ben Neve. Propseller also said “three undisclosed highly strategic investors” and returning private investors participated.
Propseller’s last funding announcement was in December 2018, when it raised SGD $1 million (about $737,000) in seed funding.
Founded in 2018 and launched the next year, Propseller says its technology platform enables transactions to close more quickly, helping with tasks like property valuations, and reduces standard commission fees to 1% from 2% because the startup’s in-house agents are able to finish more transactions in less time.
The company claims it is currently handling about SGD $75 million worth of properties each year. During the pandemic,