Leading venture capital firm Sequoia Capital, invested $1.6 million dollars in 99.CO, a Singapore based company focusing on real estate.
Valued at $8 million USD, 99.CO announced that Facebook co-founder, Eduardo Saverin, contributed part of the investment as well.
The company takes a stab at the regional market of Singapore and its direct competition, by providing property listings that are not promoted; its competition offers higher rankings to properties according to how much they paid.
Singapore’s numerous property agents – more than 30,000 – will be targeted as customers of 99.CO; the company intends to charge a $25 USD fee per month, so that property managers can use its mobile app, allowing them to better manage and promote their assets.
Another asset of 99.CO is Homie.co, a web site that renters can use to find roommates.
For more info, visit 99.CO.
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