Homebase becomes first Vietnamese startup to get accepted into Y Combinator
Homebase, a Vietnamese proptech startup, said today it has raised US$125,000 from renowned US-based accelerator Y Combinator (YC).
This comes off the company’s recent funding announcement from Troy Steckenrider III (COO of Zerodown), Darius Cheung (founder of 99.co), VinaCapital Ventures, Class 5 Global (Silicon Valley-based venture fund), Pegasus Technology Ventures, 1982 Ventures, and Antler.
The company said that it will use the proceeds to further develop its proprietary technology and financing solutions with the aim to empower aspiring homeowners in Vietnam and across Southeast Asia.
What makes this round special is that it is also the first time that a Vietnamese startup has been accepted into Y Combinator.
The accelerator is well-known for having invested and accelerated billion-dollar startups like Airbnb, Stripe, Coinbase, and Dropbox.
“Homebase feels extremely honored to be among the first companies in Vietnam and Southeast Asia to be accepted into YC and be among the company of previous YC Southeast Asia alumni including Aspire, PayFazz, and Xfers. We feel a huge responsibility and privilege in representing the burgeoning Southeast Asia ecosystem in the global tech scene,” Phillip An, co-founder of Homebase said in an emailed response to e27.
Also Read: Homebase bags 7-figure pre-Series A round to expand property financing platform in SEA
The pandemic has revealed a need for 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.
To solve the problem and help people buy their dream homes easily, Homebase utilises technology to offer home-buyers and investors across Vietnam and Southeast Asia customised financing solutions for their properties.
“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,” added An.
“Housing prices in countries like Vietnam have risen as the Southeast Asian real estate markets continue its recovery post-COVID-19. We believe technology is unlocking tremendous value in real estate across Southeast Asia and we look forward to offering solutions to uplift the sector with more innovative, compelling, and empathetic solutions for those who aspire to own a home,” he said.
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