Business & Economy Startups Cradle Fund’s DEQ800 invests in US$190K in proptech NEXPlatform

Cradle Fund’s DEQ800 invests in US$190K in proptech NEXPlatform




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The Malaysia-based property-technology platform raised funding from Cradle Fund Sdn Bhd’s investment program Direct Equity 800 (DEQ800)

Malaysia’s Cradle Fund has announced a US$189,973 investment into a proptech startup a range of solutions to the real estate industry, NEXPlatform, as reported by Digital News Asia. The fellow Malaysian company raised the funding from Cradle Fund’s investment program called Direct Equity 800 (DEQ800).

NEXPlatform said that it will utilise the funding to upgrade its platform and services, grow the team, and focus on market expansion.

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NEXPlatform was founded in 2016 and was self-funded in the early stage of its startup journey, which makes this funding their first round ever.

NEXPlatform describes itself as a digital platform that integrates property developer, agent, solicitor, and banker in one streamlined system to facilitate the property lifecycle from pre-sale to after-sale services.

With its Smart Digital Property Management Platform, the company aims to digitalise sales assets in the entire project lifecycle – from pre, during and after-sales services.

“Nowadays, real estate industry players are facing business challenges in the property sales lifecycle – all due to the lack of a digital strategy to tackle the new generation’s needs, inefficient lead and data management, and the limited access to critical sales and customer data. In return, industry players experience a prolonged sales process and higher marketing and operational costs,” said NEXPlatform co-founder Alvin Chooi in the article.

Chooi believes that the said problems can be solved by the Property Lead Management Solution -another product by the platform- which enables the property marketing team to consolidate inquiries from different channels, both online and offline in a centralised platform. The leads generated then will be classified and distributed to the sales team with the purpose to better understand the customers’ needs and ensure a proper follow-up action in the sales process using its built-in status-tracking feature.

The company also introduced its Digital Property Showcase Solution, which replaces physical printouts and brochures.

Other value-added solutions provided by the proptech company include the Credit Loan Assessment, Property Rental & Accommodation Management, and Smart Community Solution.

“Many technologically mature industries moved away from a restricted-use model a long time ago and embraced an outsourced consumption model, but the real estate industry, for the most part, has not. What NEXPlatform offers can be a solution to empower the local property industry,” said Cradle Chief Investment Officer Juliana Jan.

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The company claims that currently, it facilitates hundreds of property projects listing on the platform and over 5,000 users with at least 30,000 property transactions completed.

Image Credit: NEXPlatform

The post Cradle Fund’s DEQ800 invests in US$190K in proptech NEXPlatform appeared first on e27.

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