Vietnamese proptech startup raises $1.3 mln

Citics, a Vietnamese property technology (proptech) startup, said it mobilized $1.3 million in its latest round of funding, to expand its existing business and invest in new technologies.

Buildings seen in Nam Tu Liem District, Hanoi. Photo by Shutterstock

In a recent Series A bridge round, Citics secured $1.3 million from Ho Chi Minh City-based Vietnam Investments Group, Singapore-based Vulpes Investment Management and Hanoi-based BHS Group. Before this round, it mobilized a total $1.7 million from local and foreign investors.

Citics founder and CEO Tran Minh Long said the proptech startup would in December launch a new version of Citics Valuation to better valuate property and real estate projects.

Citics has so far this year signed eight cooperative deals with banks, lifting the total number of banking customers to 17. Bankers can check the details and preliminary value of property on Citics’ platform.

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