Bridgelane Group has provided Soho, a proptech startup, with $1.65 million in funding in its second fundraising round, bringing the total raised capital to $2.65 million. Jonathan Lui, a co-founder of Airtasker, founded Soho in 2017. The platform is dubbed as the “LinkedIn for property,” and it enables real estate agents and property owners to create a profile for their properties that they want to sell or rent. Prospective buyers or renters can then connect with them directly. Lui says that Soho is creating a property platform that everyone can use, and it aims to bring all properties globally into its network to make it easier for people to purchase, rent, and manage properties online. He adds that people should be prepared to think about property in a whole new way with Soho.
Soho, a real estate classifieds platform, is gearing up to compete with bigger players like REA and Domain by boosting its content and technology. The company, which currently has around 30,000 listings in Australia and 60,000 in Singapore, has received a significant funding round from venture capital firm BridgeLane Group. Markus Kahlbetzer, founder and CEO of BridgeLane Group, believes that traditional classifieds fail to capture and provide all the information available in the market, and Soho aims to change this by offering a more complete picture to both buyers and sellers. This investment round is a positive development for both Soho and the Australian Proptech industry. However, Soho will face the challenge of acquiring agents and property seekers to fill out its content on both sides of the marketplace. It remains to be seen what strategy the company will employ to overcome this hurdle.
