PropertyGuru gets $60m boost from German firm

A unit of German telecom giant Deutsche Telekom has invested $60 million to buy a stake in local tech start-up PropertyGuru.

The investment – one of the largest ever in an Asian start-up – gives ImmobilienScout24, Europe’s top property portal group, a significant share of the Singapore company.

PropertyGuru’s two co-founders – Briton Steve Melhuish and Finn Jani Rautiainen – remain the controlling shareholders.

PropertyGuru is an online property website that lets agents list properties for sale or rent, for an annual fee.

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_808591.html

 

Category: Singapore