Bangkok-headquartered Horganice will use the funds to accelerate customer acquisition and add new services to digitise rental properties.
The partnership with KBank will enable Horganice to offer financial services to tenants, property managers, and property owners. The collaboration initiatives include online bill payments and new loan offerings. The duo have also been closely working together to bring knowledge on smart property management in the digital era to small and medium businesses (SMBs) across Thailand.
Thanapong Na Ranong, MD of Beacon VC, said: “Beacon VC’s investment is not only an opportunity for Horganice to build technical capability, but also an opportunity to collaborate with KBank in order to acquire new customers and leverage innovative financial services, such as payment systems, to provide fast, efficient, and convenient product offerings to Horganice’s customers, especially those outside of Bangkok which are Horganice’s target market.”
Established in 2015, Horganice provides cloud-based rental properties management solutions for apartments, dormitories and markets. Its services include e-billing and payment collection and also provides valuable insights from data analytics for property managers, enabling them to improve operating results and customer experience. Furthermore, its mobile-based solution allows tenants to engage with property managers and make transactions.
The startup claims it is currently serving around 3,000 properties, covering more than 130,000 rooms across Thailand.
Horganice had won the Startup Thailand Pitching Challenge Chiang Mai in 2017.
Tanawit Tonekunya, CEO and Co-founder of Horganice, said: “We have already built a great rapport and been enjoying a number of productive collaborations with KBank. Our mission is to bring property management in Thailand into the new digital era and enable a carefree life for both owners and tenants alike. Today’s investment from Beacon VC will help us deliver that promise and move one big step closer to our mission.”
Launched in June 2017, Beacon VC focuses on strategic investments in early to growth-stage technology startups covering fintech, consumer internet and enterprise technology. Currently, it has a fund size of US$135 million.
Horganice represents the seventh direct investment and the first seed round investment by Beacon VC. Its most recent investments include Thailand-based wealthtech company Jitta, Southeast Asia’s leading cross-border payment company InstaReM, and ride-hailing and financial services unicorn Grab.