Business

VinaCapital Ventures invests $4 million in Rever

Trang Nguyen June 13, 2019 | 11:31 AM GMT+7

VinaCapital’s technology investment company VinaCapital Ventures has injected $4 million in Rever, Vietnam’s tech-enabled real estate brokerage company.

Rever’s technology seeks to make the home buying process little easier for home buyers.

The was announced yesterday by Khanh Tran, partner at VinaCapital Ventures, at the Vietnam Venture Summit 2019 held in Ho Chi Minh City.

The investment, according to Tran, is consistent with the firm’s philosophy of targeting startups that are disrupting how industries operate, operated by founders with a vision and experience, and capitalising on the continued robust expansion of the local economy.

“VinaCapital is a long-time real estate investor and developer, so this investment is also very strategic for us. Rever has the potential to lead the transformation of the real estate business, from one that is still very much based on bricks-and-mortar to one that is a key part of the digital economy,” said Tran.

Founded in July 2016, Rever is the first company of its kind in Southeast Asia that leverages advanced technologies to take advantage of the expanding property market of Vietnam, betting on the growing middle class and a demand for affordable homes.

Rever’s technology seeks to make the home buying process little easier for home buyers and build customer trust. The company offers price preference tools using real market data analytics, listing tracking incorporated with interactive media. The real-time transaction management gives the most value to homebuyers and sellers, while equipping agents with a smart CRM and property database.

Aiming to become a one-stop shop for all accommodation-related needs, Rever expects to add more valuable tools and services to its platform soon, including loan brokerage, digital furniture fitting, and smart-home solutions. Rever’s roughly 400 agents will close 2,000 transactions through its platform this year. The company hopes to play an important role in the Vietnamese government’s initiatives to develop the digital economy 4.0, by making real estate transactions in Vietnam safer and more transparent.

Manh Phan, co-founder and CEO of Rever, stated, “We are excited to partner with VinaCapital, whose experience and network will give us the resources to reach our potential in Vietnam and potentially beyond. With one of the strongest track records in both real estate and venture capital, VinaCapital is the ideal partner to help us take our company to its next stage of growth.”

In addition to Rever, VinaCapital Ventures has had investments in FastGo, Logivan, Urbox, and Wee Digital.

Within the context of the Vietnam Venture Summit 2019 held in Hanoi earlier on, VinaCapital Ventures has also announced its strategic partnership with Mirae Asset – Naver Asia Growth Fund, a $1 billion joint fund by Korea’s leading financial group Mirae Asset and Korea’s leading internet company Naver.

VinaCapital Ventures is part of VinaCapital, one of Vietnam’s leading asset management companies with $1.8 billion in assets under management.

Filum AI secures $1 million amidst funding winter

Filum AI secures $1 million amidst funding winter

Business -  2 day

Filum AI has successfully raised $1 million in funding despite a challenging venture capital market, underscoring the potential of AI and shifting investment strategies.

New decree eliminates barriers and enhances access to financing for enterprises

New decree eliminates barriers and enhances access to financing for enterprises

Business -  1 week

Enterprises are advised to promptly assess and evaluate the impact of the changes in the newly-issued to ensure timely compliance in the upcoming tax finalization period.

Lux Travel DMC earns global recognition for sustainability

Lux Travel DMC earns global recognition for sustainability

Business -  1 week

Lux Travel DMC has solidified its position as one of the global leaders in sustainable tourism with the prestigious Travelife Certified Sustainability Award 2025.

Promoting technology leadership training in the AI ​​era

Promoting technology leadership training in the AI ​​era

Business -  1 week

As AI becomes more prevalent, business leaders must evolve - blending management expertise with a deep understanding of technology and its applications.

Tokyo AA and Rakusei form strategic partnership

Tokyo AA and Rakusei form strategic partnership

Business -  2 week

The collaboration between Tokyo AA and Rakusei aims to develop high-potential real estate projects, bringing Japanese expertise to Vietnam.

CFOs remain cautiously optimistic, prioritizing revenue growth amid economic risks

CFOs remain cautiously optimistic, prioritizing revenue growth amid economic risks

Business -  2 week

Chief financial officers (CFO) in Southeast Asia are setting their sights on revenue growth to ensure resilience and maintain expansion through economic cycles.