This collaboration is intended to promote the growth of NFT real estate and draw more global investors to participate in blockchain-powered proptech in Vietnam.
Among other investment forms, real estate investment offers the highest ROI with the lowest risk. However, its characteristics generate significant entrance obstacles for private investors, such as large investment money and a time-consuming, multiple-transaction procedure.
Metain makes income-generating assets accessible, simple, safe, transparent, and trustworthy for investors. The platform’s goal is to expand the Vietnam real estate investment industry and make it more accessible by utilizing blockchain technology to supplement, rather than replace trustworthy ways.
Duc Tran, General Partner at IDG Capital, said: “Income-producing property is real estate you invest in to make money from current rental payments, appreciation in market price, or adding value with additional revenue streams. Last but not least, their aims are only around Central Business District properties whose evaluations are the most stable with an all-time uptrend, compared to other options.”
“With the high security, instantaneous settlement, transparent and seamless transaction process, blockchain, smart contract and NFT technology are transforming the real estate industry and will become the key trend in the next decades. The next challenges would be how proptech investors’ pennies with a reliable setup and how to grow these pennies via choosing the right investment assets to acquire. And we believe that we are on the right track of that,” said Nhan Tran, CEO of Metain.
99 Group ‘exploring’ option to buy Vietnam’s Propzy
The source also notes that Propzy is one of a dozen potential targets for 99 Group, which recently raised $37 million in a round led by real estate-focused private equity firm Gaw Capital Partners.
In 2020, the firm also co-led Propzy’s $25 million series A round alongside SoftBank Ventures Asia.
Tech In Asia has reached out to 99 Group and Propzy for comment regarding the matter. 99 Group’s interest in Propzy was first reported by DealStreetAsia earlier today.
Founded by Darius Cheung in 2014, 99 Group currently operates four property platforms across Singapore and Indonesia: 99.co, Rumah123, iProperty, and SRX.
Cheung previously noted that a “strong” balance sheet will allow the firm to react to potential merger and acquisition opportunities, which the company expects to “come in abundance.”
Meanwhile, Propzy confirmed in June that it had laid off 50% of its staff amid a restructuring of its business model. Propzy CEO and founder John Le said the startup would have to shift away from the marketplace model to increase efficiencies.
Despite attracting investments, Vietnam’s proptech sector is still nascent, with most startups struggling to find product-market fit in order to compete with traditional brokerage firms.
Micro-investment startup Tititada raises $1.5mln in pre-seed round
Launched in 2022, the Vietnam-based micro-investments platform aims to help Vietnamese achieve financial security through investing.
It has become one of the first micro-investments platforms in Vietnam to be designed consumer-first, combining features like useful investment and financial management advice with a one-click access to various investment instruments.
Founder of Tititada, Giang Nguyen, believes such a trend is currently gaining momentum following changing lifestyles and investment habits in Vietnam, as she noted that more than 70 percent of individual investors in Vietnam are below the age of 30, according to a survey of 700 participants conducted in December 2021.
“The Vietnamese still do not have a long-term investment mindset, especially when it comes to preparing for retirement. Current societal trends like longer lifespans, an aging population, and shrinking family sizes would leave many financially insecure when they retire if they do not have a well-defined financial plan in place in their golden years” said Giang.
Consumer platform Be Group receives $100 mln loan from Deutsche Bank
Be Group JSC, the owner and developer of the on-demand multi-service consumer platform “be”, held a signing ceremony with Deutsche Bank after receiving a loan facility of up to $100 million.
Be Group would use the proceeds to continue scaling up its three primary consumer services: on-demand ride-hailing, food delivery and a digital bank arm as well as new expansions.
The financing will facilitate Be Group‘s ambition to become the No.1 on-demand multi-service consumer platform for Vietnamese users, strongly establishing itself as a local champion of Vietnam’s tech scene.
In under 4 years, Be has grown its ecosystem to include transportation, food and goods delivery, flights, insurance, telecom services, and a digital bank, operating in 28 provinces and cities nationwide, with over 20 million downloads. Be is the biggest Vietnamese tech player in this on-demand transportation category.
|In under 4 years, Be has grown its ecosystem to include transportation, food and goods delivery, flights, insurance, telecom services and a digital bank.|
Within the first half of 2022, Be has doubled its revenue growth in the key market of Ho Chi Minh City, surpassed over 1.5 million monthly active users with transactions on the platform in the first quarter, and already turned a profitable contribution margin in Q3 this year.
Be also worked with Cake by VPBank to launch the first digital driver lending product on driver’s apps and to launch a co-brand instant-approve consumer lending product with Cake by VPBank.
Cake by VPbank is the first digital bank in Vietnam that provides a full range of essential financial services including payments, savings, loans, micro-investments and credit cards, and has already attracted more than 2 million customers in less than 2 years.
Ms. Vu Hoang Yen – CEO of Be Group said, “This partnership with Deutsche Bank confirms the acknowledgment of the results and prospects of the business model Be Group is pursuing while also meeting top-notch global financial standards. With the mobilized loan capital, along with the sustainable growth orientation and the vision of our current investors, despite the enormous challenging competition landscape, I believe that we at Be Group are well inspired and supported to strive to materialize our medium and long-term ambition as a local champion tech company. Our deep appreciation goes to Deutsche Bank’s team who put in extensive effort to make this happen.”
|The signing ceremony of Deutsche Bank & Be Group.|
Deutsche Bank has a broad footprint in Asia Pacific across 14 markets and this year celebrates its 150th anniversary in the region. This year Deutsche Bank was named the overall market leader in APAC FX (Euromoney) and is the top-ranked bank for APAC FIC Financing and Credit Trading, according to Coalition.
Mr. Sreenivasan Iyer, Managing Director and Head of Investment Banking Coverage Southeast Asia and Financing Origination China, India at Deutsche Bank, said: “We are delighted to be working with Be Group. Deutsche Bank has been present in Vietnam for over 30 years, and such transactions further demonstrate the bank’s unwavering commitment to our clients in this country. As Vietnam’s economy continues to thrive, we see many opportunities to partner with our clients to support their growth. We are proud to play a role in Vietnam’s growth story.”
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