Singapore-based proptech startup 99 Group has raised $11 million U.S. in a series C funding run, bringing the total amount of funding it has raised to date to more than $80 million, according to Deal Street Asia. The latest funding round was led by existing shareholder Gaw Capital Partners, with Ocbc Nisp Ventura also participating.

Founded in 2013 by Darius Cheung, Yan Phun and Conor McLaughlin, 99 Group operates a number of websites that focus on solutions for renting and buying property in Indonesia and Singapore, including,,, and

According to 99 Group, its revenue will grow more than eight-fold between Q1 2019 and Q1 2022, with its monthly user traffic quadrupling during the same period. The company says it has a 70% market share in Indonesia.

99 Group Indonesia CEO Wasudewan (LinkedIn profile) said it would use this investment to continue to expand to new cities in Indonesia: “Currently we are focused on developing markets in several big cities outside of Jabodetabek (the Jakarta Metropolitan Area), such as Surabaya, Bandung, Solo, Semarang and Makassar.”

“This investment will support the accelerated growth of the 99 Group, helping it to expand, develop technology, consolidate teams, and execute partnerships or strategic acquisitions,” according to a spokesperson for Ocbc Nisp Ventura.

Other investors in 99 Group include Sequoia Capital, MindWorks Ventures, East Ventures and 500 Global, as well as such angel investors as Meta (formerly Facebook) co-founder Eduardo Saverin.

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