PropertyGuru bags $175m funding from three big-name investors

The largest investment in a tech firm this year.

PropertyGuru, an online property portal that operates in Singapore, Indonesia and Thailand, has bagged a $175m investment from a consortium of three investors.

The investing consortium is made up of global private investment firm TPG, Indonesia’s largest media group Emtek Group, and leading Asia Pacific-based tech venture capital firm Square Peg Capital.

The deal represents the largest investment in Southeast Asia’s technology sector so far this year. PropertyGuru said that the funds will be used to fund its expansion in the region.

Scout24 – previously a minority shareholder will exit the business to focus on their core wholly-owned property and car online classified businesses in Europe.