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Real estate services startup Rsquare snaps up $72m funding

A promotional image of Rsquare's real-time location-based information portal for commercial properties (Rsquare)
A promotional image of Rsquare's real-time location-based information portal for commercial properties (Rsquare)
South Korean commercial real estate services startup Rsquare said Monday it has raised $72 million in series C funding from private equity firm STIC Investments.

The proceeds will be used to enhance its property technology that powers its real estate services, strengthen its foothold in the Vietnamese market with a new business launched in June, expand its presence in other Southeast Asian countries including Singapore and Indonesia and hire new talents.

STIC Investments is the sole investor in the latest round. Previously, Rsquare had attracted venture capital funding from Bon Angels, Z Venture Capital, Softbank Ventures Asia and Korea Venture Investment Corp.

Founded in 2009, Rsquare is now dedicated to offering various commercial real estate services, ranging from office leasing and brokerage to interior design and exterior renovation, as well as property data analysis.

Rsquare’s revenue from January to August exceeded 100 billion won ($84.8 million), according to the company. Its 2020 revenue was 65 billion won.

By Son Ji-hyoung (consnow@heraldcorp.com)
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