Alternative Housing Group (AHG), a Philippine-based real estate technology startup and property technology incubator, has raised $1.1 million in a seed funding round led by local venture capital investor Foxmont Capital Partners.
Real estate mogul David Leechiu, entrepreneur Melissa Limcaoco, and Magsaysay family also participated in the funding round that AHG said will be used to build new technological innovations in real estate.
AHG focuses on rolling out asset-light accommodation brands, organising and structuring integrated services for renting and buying, developing proptech applications, building real estate vertical platforms, and developing new applications for property auctions, among others.
Headed by co-founders Revianne Sesante, Ryan Llamoso, and Patrick Llamoso, the company is composed of young and aggressively competitive team members specializing in the fields of technology, marketing, entrepreneurship, property management, and operations.
The funding round comes as analysts said the Philippine real estate market is heading towards a promising future as the economy begins to open and vaccination programs continue to roll out.
“The developments around the world – which have been accelerated by the pandemic – means that the definition of home, live, office, work has rapidly changed. Unfortunately, the Philippine property market has been stagnant for decades, however, now it is ripe for disruption,” AHG Co-founder Ryan Llamoso said.
Within one year, the company already began making a significant impact on the real estate scene through its specialized affordable rental and student housing platforms like rentalbee.ph, bedsandrooms.ph, and enta.ph.
Already in beta, further platforms for staff housing, warehouses, billboard, land, agricultural properties, parking, holiday homes and many more will soon be launched, the company said.
Aside from the platforms, the company has launched new accommodation brands such as Havitat, Cozy Folk, 825 Spaces, and Link Living, to name a few, which have been launched in the Sinigang Valley: the up and coming silicon valley of the Philippines.
With the seed funding from Foxmont and other investors, Alternative Housing Group plans to fuel the upcoming projects that it has prepared and lined up in the coming years, according to the announcement.