Propcap has joined the Greater Bay Area Cross-border Data Mutual Recognition Platform with Nova Credit successfully, which enables us to facilitate the KYC (Know Your Customer) process to the client from Mainland China in financing the overseas property.
Propcap Technologies Limited (PropCap), a Hong Kong lending marketplace that specializes in overseas property mortgage matching platform, plans to complete the Series Pre-A round in the first half of the year. The upcoming capital raise is scheduled to kick off by April this year. Deal size could be up to USD 2m, at a target of USD 12m pre-money valuation, PropCap has reached a price tag of USD 8.5m after securing USD 506,000 in the second tranche in October 2021. The funding will be used for business expansion in the U.K, setting up a subsidiary and acquiring for the money lending license in Japan, expanding market entry into the Greater Bay Area (Mainland China) and Australia.
Business Partnership Agreement signed between PropCap and 株式会社プロフィッツ Profitz K.K “Profitz” for the Growing Demand in Japanese Real Estate Investment. Overseas demand of real estate in Japan is expected to recover after the end of Coronavirus. With the gradual recovery of tourism to Japan, investors from Greater China are likely to increase East Asia real estate investment.