Istanbul –  December 15, 2017 sold to Garaj Sepeti

Bangkok/Tokyo – October 12, 2017

Hipflat receives strategic investment from Aucfan

Hipflat, Thailand’s leading technology-driven real estate marketplace, has raised an undisclosed strategic investment from Aucfan, Japan’s largest online auction price analytics and search platform listed on Tokyo Stock Exchange. The company will use the funds to introduce new innovative products, aiming to boost transparency in emerging property markets. Hipflat investment is Aucfan’s first involvement in Thailand and into a real estate marketplace.

With 260,000 active property listings, that attract over 30,000 monthly inquiries from homebuyers and renters, Hipflat is already well-positioned in Thailand. The company has earlier received funding from well-known international investors, such as 500 Startups.

One of Hipflat’s core differentiators is its proprietary data-mining solution that allows to collect, extract and process real estate pricing data from hundreds of unstructured sources. The data, collected with the help of Natural Language Processing and Machine Learning technologies, includes historical asking prices for ~2,500 projects, going back as far as 8 years, achievable rental yields and pricing trends. In the country, where official property transaction records are not available to public, Hipflat became a go-to place for property investors, real estate developers, agents, lenders, appraisers and regular homebuyers, who are looking for the information that can help them make well-informed decisions.

“It is very exciting for us to conclude this strategic partnership with Aucfan. Their expertise in developing Big Data mining and analytics solutions will help us further improve our products and build ground for expansion to other countries in Southeast Asia,” says Denis Nemtsev, founder and CEO of Hipflat, “Availability of trustable market data in emerging real estate markets can play a vital role in increasing buyers’ and sellers’ confidence, improving liquidity and stabilizing property prices. We will keep innovating in this area and will soon announce our new products, utilizing the amazing new possibilities offered by blockchain and smart contract technologies.”

“Being a technology-driven company ourself and providing product and price data on 20 billion transactions to 10 million monthly visitors, we were impressed by Hipflat’s achievements, outstanding technology and the unique value proposition to its customers,” says Shuichi Takenaga, CEO of Aucfan, “After analyzing the market and looking into companies with further growth potential, our decision to support Hipflat was made very fast. Denis and his team have done a great job in the last 4 years and have a very promising roadmap ahead”.

Earlier this year Hipflat received a prestigious “Companies to Action” award from Frost & Sullivan, which recognizes unique and transformative companies that make the most social impact. Vipul Verma, Analyst at Frost & Sullivan said: “Technology is changing the way properties are being advertised and sold in the modern world. Hipflat is not only leading this change but is also assisting in strengthening Thailand’s fragmented and non-transparent real estate market by fetching previously unavailable real estate market data and applying analytics to it.”

GeeXstar, the technology focused investment banking boutique acted as the exclusive financial advisor to Hipflat. “We are very proud to have worked with Hipflat team. The unique technology enables them to compete with large players like PropertyGuru, while staying lean and flexible,” says Martin Olczyk, the Managing Director at GeeXstar.


About Hipflat:

Hipflat Pte. Ltd. ( was incorporated in Singapore in 2013, and headquartered in Bangkok, Thailand, where it operates an online real estate portal connecting property buyers and renters (including residential, commercial and industrial) with sellers and landlords.

Hipflat is the first and the only online real estate listing company in Thailand, that provides access to listings and at the same time shows project-level data on current and historical prices. Hipflat’s transparency enables users to access market data that was previously widely dispersed or even completely inaccessible. This unique feature helps private customers, commercial agents and property developers to eliminate guesswork and make well-informed, profitable decisions to buy, sell and invest in property.


About Aucfan:

Founded in 2007, Aucfan ( is Japan’s largest online auction price comparison and search website. Today, Aucfan allows users to compare, search, and analyze online auction and ecommerce product and price information, as well as to see the prices and numbers of transactions for products traded in the past.

Both buyers and sellers can use it as a reference for doing business online. In particular, is an advantageous source of information for sellers.

The company provides product and price data for over 20 billion transactions, and its service is used by more than 10 million visitors monthly.


About GeeXstar:

GeeXstar ( was founded in 2013, being Southeast Asia’s first investment banking boutique solely focused on fast growing tech and internet companies as well as start-ups, covering M&A, fundraising and strategic topics.  The company supports its clients on sell-side, buy-side and growth capital projects, addressing businesses in emerging and mature markets such as Southeast Asia, Western-, Central- and Eastern Europe.

For further inquires please contact:

Denis Nemtsev, CEO and Founder, Hipflat:

Martin Olczyk, MD and Founder, GeeXstar:

Earlier Transactions

eatigo has closed a Series-A round