Bangkok-based online real estate agency Lazudi has raised $2 million in funding from Sweden-based venture capital firm Proptech Farm.

The online property agency will use the new capital to deploy technology to simplify the home buying and selling process. The investment comes as the South East Asian kingdom’s property market is poised to grow after the decision to reduce travel restrictions.

“The past few years have helped accelerate consumers’ acceptance of digital resources to make better, more informed decisions for purchasing a property. Virtual tours, 360 immersive walkthroughs and digital agreements are all now playing a regular part of the ‘New Normal’  buying process,” said Costa Savva, co-founder and managing director of Lazudi.

PropTech Farm, a scale-up and growth engine for potential growth start-ups, aims to bridge the Nordics with South-East Asia. It invests in and accelerates companies to new markets beyond their home turf. This recent investment round highlights significant interest in the industry in Thailand.

“The PropTech landscape has evolved over the last few years, as 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 in Lazudi plans to change this for both agents and the end consumer,” said Fredrik Bergman, CEO and co-founder of PropTech Farm.

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