Swedish venture capital firm PropTech Farm poured USD2 million in Lazudi, Thailand’s first cloud-based property agency. The investment will allow the company to further its mission of simplifying the home buying and selling process in the Kingdom through the adoption of digital innovation.
“The past few years have helped accelerate consumers acceptance of digital resources to make better, more informed decisions for purchasing property. Virtual tours, 360-degree immersive walkthroughs and digital agreements are all now playing a regular part of the ‘New Normal’ buying process,” Costa Savva, Co-Founder & Managing Director of Lazudi, said. “In much more developed markets, consumers are already completing the full process online and we plan to implement similar technologies here in Thailand.”
The Lazudi cloud-based platform works uses a similar principle to e-commerce which are prevalent in Thailand. It makes the posting and marketing of inventory easier for property professional while providing increased transparency for buyers and sellers during the transaction process in addition to slashing the onerous paperwork and admin duties.
Lazudi’s innovative approach aligned well with PropTech Farm’s investment strategy which covers Southeast Asia and the Nordic countries.
“The PropTech landscape has evolved over the last few years,” Fredrik Bergman, CEO & Co-Founder of PropTech Farm, explained. “Historically, it has been an industry slow to go digital. More and more online solutions are now available, but little has reached the Thai market which remains very fragmented and primarily offline, heavy on admin with little transparency for consumers. Our investment into Lazudi plans to change this for both agents and the end consumer.”