Singapore-based Greyloft, a full-service technology-enabled property agency, has successfully raised a round of seed funding of S$1.5 million ($1.1 million) from DSG Consumer Partners, Wavemaker Partners, Cub Capital, Tigris Capital.
Greyloft provides offline services such as a team of licensed in-house property agents to assist customers in shortlisting properties, coordinating viewings, negotiating terms and moving in. It also offers neighbourhood guides, a property discovery platform and price trends comparison data to aid decision-making.
The company’s platform provides customers in renting their property, starting from online research through to paperwork and post move-in support.
The startup is building and training its own team of in-house agents to ensure customers receive high quality advice and a consistent experience, in addition to being equipped with customised tools to simply and manage their work processes and deal flow. Currently serving the rental market in private residential properties, it also intends to expand into the sales segment.
Co-founder and CEO of Greyloft, Siddhesh Narayanan, said,
There are a lot of players in the market addressing property listings. Once renters or buyers see the listing online, they have to rely on multiple agents for the rest of the process.
He also added that, Property portals have no control over these agents. As a result, they often go through a disjointed end-to-end experience which the startup aims to address. From property discovery to house selection and paperwork, they want to ensure that their customers sail through the entire house-hunting process seamlessly.
Greyloft is also seen recruiting additional data scientists and researchers to aggregate and present relevant information out of the various data sources regarding Singapore’s property market.
They build the next generation digital platform to manage the cumbersome real estate transaction process. Greyloft has developed a set of tools that automate much of this process and bring a level of transparency that is absent today.
said Deepak Shahdadpuri, managing director of DSG Consumer Partners.