MEF IV invests in proptech company Rever

Mekong Capital announced on August 18 that the Mekong Enterprise Fund IV (MEF IV) has completed a $10.2 million investment in property technology (proptech) company Rever; the fifth company in its portfolio to be announced.

The investment from MEF IV will help Rever develop its management team, strengthen its corporate culture, and accelerate the development of technology features. It will also help it access the necessary resources to achieve its vision of becoming the leading proptech company in Vietnam through transforming the brokerage market.

Established in 2016, Rever is one of the pioneering technology companies in Vietnam in the field of real estate brokerage, or proptech. It operates under the online-to-offline model, applying a technology platform, combined with a team of professional brokers to serve customers with real estate needs.
After five years, Rever has grown into one of the leading brokerage companies in Vietnam, with more than 50,000 verified listings. “What really attracted me to Rever is its amazing co-founders and leadership team, who are authentically committed to a big vision of transforming Vietnam’s real estate market,” said Mr. Sjoerd Zwinkels, Mekong Capital’s Deal Leader for Rever.

“Usually people think that cash flow is important for startups,” said Mr. Phan Le Manh, Co-founder and CEO of Rever. “But for Rever, it is more important that our investors believe in our vision and are willing to create space and support the team on the path to that vision. I believe Mekong Capital is the companion we need, as members of the same team to continue the great journey.”

Rever previously received investments from VinaCapital Ventures and the GEC-KIP Technology and Innovation Fund (GEC - KIP Fund), an investment fund co-managed by Singapore’s Golden Equator Capital and Korea Investment Partners from South Korea.