Online property portal group PropertyGuru has acquired sales and marketing company ePropertyTrack, for an undisclosed amount.
This deal comes on the back of the recent SG$175 million investment in PropertyGuru by a group of investors comprising TPG, Emtek Group and Square Peg Capita.
ePropertyTrack’s services support real estate agencies and agents by providing a multi-media interactive sales tool. Its information-sharing platform aims to help developers and marketing agencies by providing sales leads for agents.
Covering over 90% of active new projects in Singapore, ePropertyTrack helps developers and agencies streamline the sales and marketing process of their new projects. The tool is accessible on both desktop and mobile and facilitates sales discussions with prospective buyers and bookings of units directly with the developer in real-time.
Post-acquisition, ePropertyTrack teams in Kuala Lumpur and Singapore will be integrated into PropertyGuru’s local offices. Both companies will continue to work independently in the near-term. There are plans underway for joint development of products and services and roll-out of new projects regionally.
Steve Melhuish, CEO and co-founder of PropertyGuru, said, “Today, a growing number of top property developers and real estate agencies are using the ePropertyTrack service to market more than 500 new project launches in Southeast Asia.”
Kunal Bagga, founder, ePropertyTrack, said, “This investment, coupled with PropertyGuru’s passion for innovation, will empower us to deliver enhanced and cutting-edge products to our users.”