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PropertyGuru Group Limited (NYSE: PGRU) has acquired Sendhelper, a Singapore home services technology company, to enhance its offerings in the property management sector. This strategic move aligns with PropertyGuru's growth strategy, aiming to serve Southeast Asia's property industry by providing homeowners and tenants with reliable home management services. Sendhelper's platform connects users to verified service providers, allowing easy access to various services. Although the acquisition is expected to offer long-term growth opportunities, it is not anticipated to significantly impact the Group's financial results for 2022.
Positive
Acquisition of Sendhelper expands PropertyGuru's service offerings into home management.
Enhances the customer experience by providing a one-stop destination for property needs.
Strategic alignment with PropertyGuru's growth strategy focused on Southeast Asia's property market.
Long-term growth opportunities anticipated from the integration of Sendhelper's services.
Negative
None.
The acquisition is in line with the Group’s identified growth strategy towards serving Southeast Asia’s property industry
Homeowners and tenants in Singapore can now rely on PropertyGuru to not only find, finance and own homes, but also manage and maintain them
Agent partners can offer their clients an array of home services through Sendhelper
SINGAPORE--(BUSINESS WIRE)--
PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or the “Group”), Southeast Asia’s leading1, property technology (“PropTech”) company, today announced that it has acquired Sendhelper, a Singapore home services technology company. With this acquisition, PropertyGuru enters the home services industry with an aim to provide easy and reliable access to home management and maintenance services. The acquisition is in line with the Group’s growth strategy of expanding into adjacencies of fintech and data while investing in its core Marketplaces business towards creation of a digital property ecosystem for all its stakeholders in Southeast Asia – property seekers, sellers, agents, developers, banks, and valuers.
Sendhelper is a start-up that allows homeowners and tenants in Singapore to easily search and book home services for their daily needs through an app that connects them to verified service providers. The services include cleaning, air conditioner maintenance, and handyman and repair services, among other necessities. Homeowners and tenants can enjoy transparent pricing, quality service, and flexible scheduling options from a network of trusted and legally operating vendors, thereby saving time and effort in looking for service providers from multiple platforms. Sendhelper network includes over 2,000 trained and verified freelancers in Singapore.
With the addition of Sendhelper, PropertyGuru.com.sg, Singapore’s #1 property marketplace1 will become the one-stop destination for property seekers to not only find, finance (PropertyGuru Finance) and own their dream home but also manage and maintain it. PropertyGuru’s partners (real estate agents) will also be able to offer home services to their clients (property seekers and landlords) and cater to all their property needs with PropertyGuru – from housing options to home finance solutions and now home maintenance. Sendhelper is a strategic addition with long-term growth opportunities and is not expected to have a material impact on the Group’s 2022 financial results.
According to a 2021 report2 of the Department of Statistics in Singapore, households in Singapore have brought in higher incomes over the last 10 years amid a growing trend of married, dual-career couples, which suggests that households will increasingly depend on outsourced help to manage and maintain their homes and home services will be in high demand.
Shyn Yee Ho-Strangas, Managing Director, Data and Software Solutions, PropertyGuru Groupsaid, “Our entry into home services is an important step as we create solutions that provide guidance and make each step of the property journey more efficient, transparent, and trusted for everyone in the ecosystem – homeowners, buyers, agents, and developers.
For property seekers in Singapore, PropertyGuru has been the preferred destination to find, finance and own their home. Now with Sendhelper, we are pleased to offer them services to manage and maintain it as well.
We are delighted to welcome Rupam and Bogdan (Co-Founders, Sendhelper) and the Sendhelper team to PropertyGuru. Sendhelper’s team brings rich and diverse experience in an e-commerce platform for home services. Given our shared vision of harnessing data and technology to improve our customers’ experience, we aim to be a force for innovative and game-changing solutions that guide people to make confident property decisions.
Over the coming months, we plan to develop Sendhelper solutions and synergies for our partners and I am excited about the value that we can deliver together for them.”
Rupam Biswas, Co-founder, General Manager, Sendhelper, added, “PropertyGuru’s vision to meet consumers’ end-to-end property needs resonates deeply with us. Our vision at Sendhelper is to become the one-stop platform for consumers seeking help with property maintenance and home care.
Post-COVID, as more people continue to use online solutions for their daily needs, with PropertyGuru, we aim to effectively digitise the customer journey for home needs. We look forward to co-creating tech solutions that will further ease the home services booking experience and increase users’ access to organised help as opposed to informal or ad-hoc sources.”
Bogdan Metehoui, Co-founder, Vice President, Sendhelper, said, “We are excited about joining forces with PropertyGuru and are looking forward to the synergies that we will create as a result of the two teams coming together. Our strong network of reliable suppliers and freelancers coupled with our focus on service quality, complement PropertyGuru’s customer orientation. We are determined to continue providing our customers with access to home services through a safe and reliable platform.”
As Southeast Asia’s #1 digital property marketplace1 and a market leader in Singapore with 76% market share1, PropertyGuru continues to invest in technology driven solutions that make finding, selling, and owning homes easier for property seekers, homeowners, agents, and developers.
About PropertyGuru Group
PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 40 million property seekers3 to find their dream home, every month. PropertyGuru empowers property seekers with more than 3.5 million real estate listings4, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.
PropertyGuru.com.sg was launched in Singapore in 2007 and since then the Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio of leading property Marketplaces across its core markets; award-winning mobile apps; mortgage marketplace, PropertyGuru Finance; and a host of enterprise solutions now under PropertyGuru For Business including a high-quality developer sales enablement platform, FastKey, DataSense, ValueNet, Awards, events and publications across Asia.
1 Based on SimilarWeb data between January 2022 and June 2022.
2 Singapore Census of Population 2020
3 Based on Google Analytics data between January 2022 and June 2022.
4 Based on data between January 2022 and June 2022.
