HostelHunting.com has been a strong player on a Malaysian startup scene since 2015. With a US$500,000 seed funding received in December 2015 from KK Fund (Singapore-based VC), Incubate Fund (largest seed VC in Japan) & Cradle Fund (early stage startup influencer from Malaysia), HostelHunting.com managed to build a strong team and accelerate the growth in the student property rental market.
Since then, the company has expanded its presence across Southeast Asia. Thailand began their local operations at the end of 2016 and in early 2017 the company started local operations in Singapore.
HostelHunting.com is a student accommodation platform dedicated to providing the best student living experience through their community of landlords & operators, an expert knowledge of the neighbourhood and the needs of the students.
Wen Khai, CEO of HostelHunting.com, “We have worked hard to provide accommodation near almost every major educational hub in Malaysia & Singapore. Thailand is progressing well as we spread in and around Bangkok."
“We are building a strong community of students, landlords & educational institutions. We are learning from them every step of the way. One of the key challenges that we needed to overcome was to understand the students’ needs in different areas. We are now proud to be able to identify them quickly and provide the best fit.”
Being able to adapt to the different markets have been a key driver for HostelHunting.com’s regional growth. “Thailand’s potential is huge. The traditional way to find a room is difficult for all parties. We are investing in educating the students & owners and the results are showing. Our listings in Bangkok & Greater Bangkok have grown exponentially.”
“Singapore is very different from the rest of Southeast Asia. It is a relatively small country with a huge international student population. Accommodation services are professionally run so the expectations on us are just as high. We work closely with all our stakeholders to ensure we meet all their requirements."
A New Round of Funding
Now, with a newly received Series A, HostelHunting.com will further strengthen its foothold in Malaysia and drive further growth in the region. They will invest in growth, people, infrastructure & technology.
Investors for this round include:
• Accord Ventures, Inc.- Tokyo-based seed stage VC firm focusing on Japan, US and South East Asia.
• Hoop Partners - Real estate investment and asset management firm specialising in Asia with over 10 Billion USD investment and asset management experience.
• Startia - Japanese IT company listed on the Japanese Stock Exchange specialising in web, network & business solutions.
• KK Fund - venture capital fund investing in seed stage Internet and mobile startups across South East Asia, Hong Kong and Taiwan
Fumihiko Ishimaru, CEO of Accord Ventures underlined, "We are very excited to join in the HH's team as an investor. We believe that the team will achieve a phenomenal growth in the future in the fast-growing Asian market and we will support their growth based on our experience - which we have done for the big platform players in Japan.”
Toshiyuki Hirayama, CEO of Hoop Partners said "As a real estate asset management firm in Japan, we have been looking for a real estate tech investment in Southeast Asia - which is a fast growing market. We are attracted by market size and growth of student accommodation business and impressed by the highly motivated and experienced founders. We are happy to further accelerate the real estate market in Asia with HH team."
Wen Khai says: "We are excited about the potential of these new strategic partnerships. It will help us develop new functionality, strengthen our core & accelerate our journey to providing the best student living experience across Southeast Asia.”
“We are really investing in people, new features & technology. The second half of the year will be a major game changer for us”.