Hong Kong property listings start-up Spacious attracts US$3 million to grow in Asia

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Spacious.hk joins a wave of property related start-ups in Hong Kong that have received funding recently. Photo: Sam Tsang

Published: 8:00am, 22 Jun 2015Updated: 11:59am, 22 Jun 2015

Hong Kong property listings start-up Spacious.hk has closed a US$3 million funding round including investment from Nest VC partner Billal Naveed, according to media reports last week.

The funding, which includes investment by Martin Haigh, chief executive of ticketing website Ticketflap, will be used to support the property portal’s expansion in Asia, TechCrunch reported on Thursday.

"The primary use of funds is to accelerate expansion in Hong Kong and help to setup the business in other cities across Asia. Most of the investors in this funding round were original investors in our seed round, the fact they are coming in again is great validation for the business," said Spacious.hk founder Asif Ghafoor.

The announcement follows on from Hong Kong logistics start-up GoGoVan’s US$10 million investment, also last week, and the US$6.6 million raised by local storage start-up Boxful.

Spacious was launched in 2013 by Ghafoor, a former equity technology developer for international banks, to provide reliable and user-friendly rental and sales listings for Hong Kong. It has since expanded internationally.

Hong Kong property listings start-up Spacious attracts US$3 million to grow in Asia

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