NUS Enterprise

In just four years since its founding, 99.co is now the largest property portal in Singapore and Indonesia, and fast expanding its reach across Southeast Asia.

Launched in 2014 by founders Darius Cheung, Yan Phun and Conor McLaughlin, the start-up distinguishes itself from other property search websites through its user-friendly design: features like price analysis data, finance planners, smart filters, and the ability to search by map
or commute time, have ensured homebuyers and renters have the best choices in the market at their fingertips.

At the same time, the start-up has positioned itself as an agent for social change, tackling the racism frequently seen in Singapore’s property market through its “all races welcome” feature, which prominently features non-discriminatory listings.

99.co currently hosts over 150,000 active listings in Singapore and has received the support of more than 4000 registered property agents. The company has also made substantial inroads in the region: Operational in Indonesia since 2015, 99.co employs more than 100 staff in the country and transacts more than USD$100M worth of property annually. In early 2018, it was reported that the start-up had acquired UrbanIndo, Indonesia’s largest property portal with over 1.2 million listings.

The company’s mission and growth have attracted numerous investors, including Sequoia Capital, 500 Startups, Golden Gate Ventures, Quest Ventures, East Ventures, and Facebook co-founder Eduardo Saverin, among others. To date, 99.co has raised more than USD$10M through angel, seed and Series A rounds.

99.co has been supported by NUS Enterprise, receiving complimentary space in BLOCK71 Singapore during its initial set-up. As the start-up has grown, it has also leveraged BLOCK71 Jakarta to expand into the region.

The co-founders’ previous start-ups tenCube (Darius Cheung), FlickEvents (Yan Phun) and Billpin (Darius Cheung and Conor McLaughlin) were all additionally incubated by NUS Enterprise. Darius is also an alumnus of  the NUS Overseas Colleges Silicon Valley programme.

Categories

NUS Overseas Colleges, Entrepreneurial Education, Entrepreneurship Support



Milestones

99.co incorporated in Singapore; based at BLOCK71 Singapore Raises USD$560K in angel funding


 

2014

Raises USD$1.6M in seed funding


 

2015

Raises USD$7.9M in a Series A round


Becomes the largest property portal in Singapore


Achieves over SGD$2M in revenue within first year of monetization 2018: Acquires UrbanIndo, the largest property listing site in Indonesia

2017

Acquires UrbanIndo, the largest property listing site in Indonesia


 

2018