Blog

Warburg Pincus Leads Ziroom’s $622m Series A

0
Ziroom
Photo from Ziroom's website

China’s largest decentralized apartment rental service provider Ziroom has completed the Series A-round financing of Rmb4 billion ($622 million), led by an affiliate of Warburg Pincus, Sequoia Capital, and Tencent.

The funding round was also participated by China Renaissance Principal Investment, Sunac Capital, GA Capital, H Capital, Source Code Capital, Haixia Asset and New Hope.

Ziroom was founded in 2011 by a team of senior professionals from HomeLink, the largest real estate agency in China, and was spun-off from the group in 2016.

Through innovative online and offline platform, Ziroom leases and renovates apartments from individual owners to provide higher-quality apartments and services to renters.

Ziroom currently manages around 500,000 rooms entrusted by 200,000 apartment owners, and has served a total of over 1.2 million renters since inception. It has presence in nine cities in China including Beijing, Shanghai, Shenzhen, Hangzhou, Nanjing, Chengdu, Tianjin, Guangzhou and Wuhan.

Also Read: DomaCom Subscribes to Moody’s CoreLogic

Ziroom CEO Xiong Lin said, the proceeds will be used to expand the company’s existing businesses in Beijing, Shanghai, and Shenzhen, as well as adding new operations in cities such as Hangzhou, Wuhan, and Guangzhou.

“We have embarked a challenging but righteous cause, which is full of fun and with great potential. Our team’s average age is 25.3 years old and we welcome more talents specializing in product management, services and IT to join us. In 2018, we will aim to be the preferred choice by owners and clients across the country,” Xiong said.

Furthermore, the Company looks to build Ziroom into a vibrant youth community, in which Ziroom renters are not only roommates but also friends with shared values. So far, Ziroom has organized nearly 1,000 community events for its renters since inception.

Also Read: activpayroll Singapore win first award

This is the third investment made by Warburg Pincus in the institutional apartment rental sector in China. In 2012, Warburg Pincus invested in Mofang, China’s first and leading centralized institutional apartment developer and operator, serving young white collars in first and second-tier cities.

In 2015, Warburg Pincus co-founded Nova to focus on the acquisition of aged and distressed properties in urban infill locations that are suitable for conversion into modern residential rental apartments with extensive amenities such as shared offices. [EventsNewsAsia.com]

DomaCom Subscribes to Moody’s CoreLogic

0
DomaCom

Fractional property investment company DomaCom (ASX:DCL) has entered into an agreement to subscribe to the CoreLogic – Moody’s Analytics Australian Forecast Home Value Index.

This will allow DomaCom to create highly targeted research backed residential property investment strategies for Independent Financial Advisers (IFAs) and direct investors.

DomaCom will initially offer a Top Australian Residential Strategy drawing on the top sector in the
CoreLogic – Moody’s Analytics Australian Forecast Home Value Index, as well as a Top Australian Cities Strategy with a choice of Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart or Darwin.

“While independent financial advisers are typically at the core of most client’s investment decisions they have not previously been able to offer clients a comprehensive property investment solution, effectively excluding the world’s largest asset class from the discussion,” Arthur Naoumidis, CEO of DomaCom.

He said the move is a step change in the evolution of our product suite, providing a simple, comprehensive solution for investors incorporating every step in the process from research to execution with a very low investment threshold of $2,500.

“This puts the investor in the driver’s seat with the power to choose a residential property strategy backed by highly credible, independent research and underpinned by the confidence of having professional advice to execute that strategy through the selection of an appropriate property,” Naoumidis said.

DomaCom will engage professional property buyers’ advocates to shortlist suitable properties to acquire using the residential strategy campaigns selected by the investors. Investors will be able to open accounts on the platform and apply for units in the strategy of their choice. – EventsNewsAsia.com

activpayroll Singapore win first award

0

SINGAPORE- activpayroll, the global payroll and tax compliance specialist headquartered in Aberdeen, Scotland was delighted to see its Singapore office win its first award.

On Thursday 9th November, activpayroll’s Singapore team were announced the winner of the ‘Partner of the Year 2017 – Top outsourcing Partner’ at the Justlogin Partner Awards 2017.

Justlogin, Singapore’s premier provider of HR solutions on the Cloud, awarded activpayroll Pte Limited the prestigious accolade in recognition of the Singapore office’s hard work, excellent working relationship and support in driving improvements to their systems.

activpayroll’s Singapore operation started in 2013 with a small office, but due to growing customer demand, this has resulted in the firm moving twice to bigger premises. The current office is at United Square, a 30-storey office tower, host to a number of embassies and blue chip companies. Along with the ever-increasing customer base, activpayroll’s employee headcount has increased and the company is continuing to recruit for additional Singapore posts.

Steven Naarden, Regional Director – APAC of activpayroll, picked up the award and commented: “It is a great honour to accept the Justlogin award for Top Outsourcing Partner 2017 on behalf of the activpayroll team.

Our partnership with Justlogin has been crucial to our success in Singapore and Hong Kong in the last 4 years. We have seen Justlogin make the effort to understand activpayroll and this has really helped us grow and prosper.

From all of us at activpayroll, I can say that we have found that being part of the Justlogin family has proven to be not only beneficial, but also enriching and enjoyable.” – EventsNewsAsia.com