From left to right: PropTech Farm CEO & Co-Founder Fredrik Bergman; PropTech Farm COO & Co-Founder Linus Björk; and Lazudi Founders Costa Savva, Neil Sutton and Ben Neve

Swedish venture capital firm PropTech Farm has poured $2 million into Thailand’s first cloud-based real estate agency, Lazudi. The investment will allow the company to continue its mission of simplifying the buying and selling process of homes in the Kingdom through digital innovation.

“Over the past few years, consumers have helped accelerate the adoption of digital resources to make better, more informed real estate purchase decisions. Virtual tours, 360-degree immersive walkthroughs and digital agreements are now all part of the ‘new normal’ buying process,” said Costa Savva, co-founder and president of Lazudi. “In many more developed markets, consumers are already completing the entire process online and we plan to implement similar technologies here in Thailand.”

The cloud-based platform works on a similar principle to e-commerce that is common in Thailand. It makes listing and marketing inventory easier for real estate professionals while providing greater transparency for buyers and sellers during the transaction process, in addition to reducing the heavy paperwork and administrative burden.

Lazudi’s innovative approach fitted in well with PropTech Farm’s investment strategy, which spans South East Asia and the Nordic countries.

“The PropTech landscape has evolved in recent years,” explains Fredrik Bergman, CEO and co-founder of PropTech Farm. “Historically, it was an industry that slowly went digital. There are now more and more online solutions available, but there is little left in the Thai market, which is still very fragmented and mostly offline, heavily burdened with administration and little transparency for consumers. Our investment in Lazudi aims to change this for both agents and the end consumer.”