Hong Kong Property Platform Spacious.hk Raises US$500k in Seed Funding

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Hong Kong startup Spacious has stepped in to fill the gap in Hong Kong’s market for a property platform with a great user experience, and has secured seed funding of US $500k from a mix of family and friends.

We had a chat with co-founder and CTO Asif Ghafoor, and he told StartupsHK about his banking tech background, what makes Spacious unique and his plans for the future of his startup.

“The Asian markets are still dominated by agents and not many people search online compared the UK or the US, due to the lack of quality websites with up-to-date listings,” said Asif. “There’s no reason it needs to be like this given the size of the underlying market.”

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Founded in January 2013, the startup has been gaining traction with a growing user base of 20% a week since their launch and has been self-funded until family and friends lent their support.

“The funding is primarily going to be used to expand the technology team and hire a business development function,” said Asif, talking about the tech behind their pricing algorithm. “Our technology stack is based around Ruby on Rails with JavaScript on the front end, using CoffeeScript and Haml to help us maintain code quality.” Asif also said that Spacious looking to grow their engineering and business development team and asks passionate and tenacious go-getter’s who fit the bill to reach out to him.

Once their product matures, Asif says that his plan is to aggressively expand across Asia and to up the coverage in its home base Hong Kong.

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Spacious on Startbase.HK: Spacious

Asif Ghafoor on Startbase.HK: Asif Ghafoor