Propseller announced a US$12 mil (RM53.7 mil) Series A funding led by Vertex Ventures Southeast Asia and India.
The firm said this round saw participation from existing investors, Hustle Fund, Iterative, and Rapzo Capital. New investors include Partech, ICCP SBI, Vulpes Ventures and Redbadge Pacific.
Propseller said the funds will enable the company to scale its core business model, expand its line-up of services and explore overseas markets.
It also plans to hire 200 new people across the marketing, operations, product, engineering, and sales and real estate functions.
Founded in 2018, Propseller is a tech-powered real estate agency that employs in-house salaried agents backed by technology and centralized operations.
The company believes that people deserve extraordinary service when selling their home, which often represents 70% or more of their wealth.
Propseller raised US$1.2 million (RM5.3 million) seed funding from Hustle Fund, Iterative, XA Network, Rapzo Capital, Stein Jakob (co-founder, Lazada) and Ben Neve (founder, Dot Property).
The startup claimed that in 2021 it observed a 1,000% growth of its revenue year-over-year and has reached profitability.