Proptech startup Baania plots overseas expansion after building base at home
PROPERTY technology (proptech) startup Baania expects to make inroads into international markets next year under a goal to boost revenue 50 per cent from last year.
The company, which provides information from Big Data sources to consumers and businesses on marketplace and data analytics-driven platforms, aims to attract more than 7 million visitors to its website by the end of this year.
Anchana Vallipakorn, chief executive of Baania (Thailand), said the company would introduce three new features on the site: Search by Lifestyle, Bestimate and BPulse. The Search by Lifestyle feature will allow people looking for homes to search according to their lifestyle needs.
Bestimate provides an automated valuation model for properties and is designed for the benefit of customers of Krungsri bank.
The feature allows Krungsri to develop loan products and services to match the needs of customers as well as property developers in the future.
BPulse will provide what the company calls deep social listening to help real-estate developers analyse their new investments for new projects.
It will also help businesses to better understand their consumers, the company said.
The firm has developed a real-estate database to serve consumer demand for purchases and for business operators that need investment insights.
The database covers property projects in 15 provinces, including Bangkok and the outskirts of the city, as well as provinces in the northern, northeastern and eastern regions.
The database lists 13,622 projects with more than 2.26 million houses and 27,291 house designs. The firm by the end of this year aims to cover 26 provinces, including Phuket, and Surat Thani.
The firm’s integrated online marketplace allows customers who want to buy houses and condominiums to access information drawn from data analytics via Baania’s website and mobile application. For second-time home buyers, they will gain personalised information to help them decide on the property they want.
Anchana said that for property businesses that want to communicate better with their customers, the firm will provide a business intelligence platform. Such companies can learn more about customer demand and gain analyses on supply, competitive dynamics, market predictions. They can also obtain brand value analysis, helping companies to compete with rival operators.
“It is a good opportunity to deliver useful service and information to customers and housing suppliers and other property business,” Anchana said. “With the potential of this high-value market, the company will provide an online communication platform, digital marketing, a business platform and business intelligence solutions to support the market.”
The company has gained investment from four corporate backers: Krungsri, PTT, AddVentures by Siam Cement Group, and co-investment with 500 TukTuks.
The firm did not disclose the investment amount from its corporate backers.
Under the collaboration, its services are intended to help Krungsri promote its mortgage loan business, and for PTT and SCG to expand their retail businesses in the future.
Anchana said the firm is in negotiations with business partners in order to expand its business in Laos, Myanmar and Cambodia next year.
The firm last year drew around 3 million visitors to its website.