Sendhelper Co-Founders Bogdan Metehoui and Rupam Biswas (R)
Early this month, PropertyGuru introduced the acquisition of Sendhelper, a Singapore residence companies expertise firm.
The acquisition aligns with the proptech group’s development technique of increasing into adjacencies of fintech and knowledge whereas investing in its core marketplaces enterprise in the direction of making a digital property ecosystem for property seekers, sellers, brokers, builders, banks, and valuers.
Over the approaching months, PropertyGuru plans to develop Sendhelper options, based on Shyn Yee Ho-Strangas, MD (Information and Software program Options) at PropertyGuru.
Quickly after the announcement, e27 spoke with Ho-Strangas and Sendhelper Co-Founder and GM Rupam Biswas to know extra in regards to the deal.
Beneath are the edited excerpts from the interview:
How lengthy has this deal been within the works?
Ho-Strangas: For about six months. We (PropertyGuru) started our due diligence after getting listed on NYSE.
Are you able to share the transaction particulars of this deal? Will it’s run as a separate entity or be built-in with PropertyGuru?
Ho-Strangas: Sendhelper is a strategic addition with long-term development alternatives for PropertyGuru Group. PropertyGuru has absolutely acquired Sendhelper and purchased out all shareholders’ shares. Nevertheless, we can’t share particular particulars of this acquisition.
Given our shared imaginative and prescient of harnessing knowledge and expertise to enhance our clients’ expertise, we intention to be a drive for progressive and game-changing options that information folks to make assured property choices.
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Over the approaching months, the plan is to develop Sendhelper options and synergies for our companions. We’re excited in regards to the worth that we are able to ship collectively for our companions.
What is going to occur to the Sendhelper founders and workers? What is going to occur to its investor Captii Ventures?
Ho-Strangas: All founders and workers of Sendhelper have been absorbed into the PropertyGuru Group. The founders are aligned with the group’s objective of constructing this into a big enterprise over the subsequent 5 years. They may keep after the combination to develop and develop the enterprise collectively.
Shyn Yee Ho-Strangas, MD (Information and Software program Options) at PropertyGuru
How will this deal profit Sendhelper? Does it have plans to foray into new verticals?
Biswas: Having established a strong product-market match, Sendhelper is now well-placed to push for top development. With this deal, we anticipate to considerably decrease our buyer acquisition prices by providing our companies to current customers in Singapore. Direct entry to actual property brokers and builders will even be a big benefit.
There are important strategic synergies in tech and product as properly. Sendhelper will proceed to work on bringing new service classes, verticals, product packages and subscriptions to serve property seekers, brokers, and builders higher.
How is the general residence companies trade rising in Singapore and the area?
Biswas: After stress-free guidelines associated to COVID-19, we’re experiencing good tailwinds. There’s additionally a niche out there, with only a few established and trusted companies platforms remaining out there after failing to outlive the pandemic. The story is identical throughout the area. That is the fitting time to take a position on this house and seize market share.
Are there any tangible modifications pre- and post-pandemic? Are there any important modifications to the market traits and shopper behaviours?
Biswas: One key change now we have observed is that customers have moved to bigger properties, and most are nonetheless in a position to make money working from home. This has led to demand smoothening away from weekend spikes to weekdays.
When there is no such thing as a concern round COVID-19, extra orders are available as a result of folks spend extra time at residence and are comfy with residence companies. Customers favor recognized, established suppliers to black market operators for well being, safety and security causes.
Which market within the area is witnessing a increase when it comes to residence/upkeep/native companies?
Biswas: Presently, Singapore is our focus for residence companies. An immense alternative exists throughout SEA for us to unravel the problems confronted by clients and repair suppliers in a significant method. The PropertyGuru group has a strong regional footprint, and we are going to leverage that on the proper time.
Which among the many umpteen residence companies classes does convey you extra income?
Biswas: Recurring companies like weekly residence cleansing are all the time the highest class. Recurring service fashions have been our focus up to now.
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However now, we hope to innovate and produce extra worth to our clients in one-time companies like deep cleansing and handyman. AC servicing can also be one other space of focus.
What does the longer term appear to be for the house companies trade in Singapore and SEA? The place is it headed?
Biswas: Most earlier classic platforms from the 2015 period have suffered by COVID-19 and face the problem of getting a significant presence of their markets. The demand has solely elevated, and the service suppliers have all the time existed, albeit unorganised. There will probably be consolidation within the trade, and a big proportion of offline, unorganised residence companies will log on and in the direction of the organised quadrant. Solely gamers who’ve a deep understanding of this enterprise’s levers and important success components will have the ability to capitalise on this chance. We can also see some progressive new enterprise fashions as a result of pureplay Web2.0 platforms haven’t fulfilled their full potential up to now.
Given the brand new developments within the expertise entrance, do you foresee the sector altering within the subsequent few years?
Biswas: {Hardware}-related innovation will impression industrial property companies earlier than residence companies. I believe we’re nonetheless many years away from changing our common residence cleaner, electrician, or handyman utterly. There will probably be tangible innovation in enterprise fashions, the invention course of, product, growing belief, service supply, and customer support, amongst different issues, making buyer experiences 10x higher than what it’s at this time. That is exactly what we’re gearing in the direction of with Sendhelper at PropertyGuru Group.
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The submit Submit-COVID-19, demand for residence companies have smoothened from weekend spikes to weekdays: Rupam Biswas of Sendhelper appeared first on e27.
