Thailand-based Baania, a Big Data-driven marketplace and data analytics platform for the real estate industry, has secured an undisclosed sum in investment from Krungsri Finnovate, the corporate venture capital (CVC) arm of local banking major Krungsri, and state-owned oil & gas company PTT Public Company.
The funds will go into improving Baania’s Big Data-based property technology.
The collaboration with Baania will also enhance Krungsri’s mortgage loan business, and the retail business of PTT and SCG.
Baania has developed a real-estate database to serve consumer demand on house buying, as well as business operators, who need investment insights. The database covers property projects in 15 provinces, including Bangkok and northern, northeastern and eastern regions.
The firm claims its platform offers information of over 13,600 projects, 2.2 million-plus houses, more than 27,000 house designs, has over four million users, and 700 million data points available for consumer behaviour analysis.
“In 2018, Baania aims at expanding our real-estate database to cover 26 provinces across the country by enlarging the storage space for southern and western regions, increasing user base to seven million, and creating innovations such as ‘search by lifestyle’, a search engine for residences based on lifestyles; Bestimate, a house appraisal system; and Baania Pulse, deep social listening, developed for those in the property industry,” said Anchana Vallipakorn, Co-founder and CEO of Baania.
“Integrating the technology into the real estate database will facilitate interested consumers with a comprehensive range of information covering all areas in Thailand, and minimise purchasing mistakes. At the same time, real estate operators can make use of information provided via Baania.com for investment decision making, and understanding customer demand and their personality as well as tastes, so that goods and services can be enhanced in accordance with their needs. Baania will eventually be their efficient communication channel,” Vallipakorn added.
Sam Tanskul, Managing Director of Krungsri Finnovate, said: “Krungsri has placed considerable emphasis on Big Data and data analytics technologies which are currently crucial and beneficial to business operations. Baania’s expertise on such technologies will enable Krungsri to get the most out of the information and innovations in order to develop loan products and services to match the needs of customers and land developers in the future.”
Krating Poonpol, Managing Partner of 500 TukTuks, said: “500 TukTuks has been interested in proptech startups, especially the Big Data-driven business that helps create a variety of business extensions with its special unfair advantage. Baania is the first proptech firm we invested as early as in the seed round last year. Its highly experienced founders and outstanding business potential will lead to a solid growth. With the new funding round from strategic investors and business partners, we believe that Baania will leap forward and become the market leader soon.