Within its first year of operations, Philippine real estate tech startup and prop tech incubator Alternative Housing Group (AHG) has secured a seed funding amounting to P55 million ($1.1 million) — fueling growth through an asset-light business model and gearing up towards building new technological innovations in real estate.
The funding round was led by Foxmont Capital Partners, a Philippine venture capital fund that invested in homegrown Filipino startups such as Kumu, Edukasyon.ph, Booky, and several others. Additional investors include real estate mogul David Leechiu, entrepreneur Melissa Limcaoco, and the Magsaysay family, among others.
As an early-stage technology startup providing concrete solutions in real estate, AHG focuses on rolling out asset light accommodation brands, organizing and structuring integrated services for renting and buying, developing prop tech applications, building real estate vertical platforms and developing new applications for property auctions, fractional property ownership and other much needed solutions for the real estate market.
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.
“Alternative Housing Group has proven that they can scale and lead the Philippine real estate evolution with high competence. As we all move toward a post-pandemic future in the Philippines, AHG’s team will certainly emerge as one of the new leaders in the real estate space,” said Franco Varona, managing partner at Foxmont.
In this time when the economy is now beginning to reopen, and vaccination programs continue to roll out, it is without a doubt that the Philippine real estate market is heading towards a promising future.
“The developments around the world – which have been accelerated by the pandemic – means that the definition of home, live, office, work has rapidly changed. The same applies to the way people search, view, own, rent, lease or transact real estate. Unfortunately, the Philippe property market has been stagnant for decades, however now it is ripe for disruption,” Llamoso said.
“Rather than being a challenge, the pandemic became an opportunity for more Filipinos, including overseas Filipino workers (OFWs) and entrepreneurs, to utilize and engage more with technology when it comes to searching, buying, leasing, and managing properties,” Sesante said.
Whether it is building new online platforms or smart cities and hubs in the Philippines, AHG will continue to be in the forefront of the development of real estate. Given a timespan of nearly 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.
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 its substantial seed funding from Foxmont and other investors, AHG plans to fuel the upcoming projects that they have prepared and lined up in the coming years – ready to reach greater heights and build the future of the Philippine real estate industry.