Korean prop-tech startup SpaceV, which operates the short-term housing rental platform ‘Samsam M2 or 33M2’, has attracted 1 billion won worth ($70k) of pre-series A investment. Daekyo Investment and We Ventures participated in this investment.
‘Samsamm2’ is a platform that connects tenants looking for a place to stay in Korea for a short period for business trips, studies, travel, etc., and leasers who want to operate flexibly by setting a short contract period. With Samsamm2, the lessee can rent a house for as long as necessary, and the lessor can earn rental income. At Samsam M2, rental contracts are signed weekly.
In Korea’s existing real estate market, the demand for short-term rental housing has been steady. However, short-term rentals are a product that real estate brokerage offices in Korea are reluctant to deal with. So it took a lot of work for anyone looking for a short stay in Korea to find rental homes and check for fraudulent cases.
Jaeyup Kim, director of Daekyo Investment, who led this investment, said, “SpaceV has built an innovative platform based on a clear understanding of the pain points of the real estate rental market. It is meaningful because it is a business model that can satisfy tenants and lessor customers. We look forward to it becoming a prop-tech company that can represent Korea in the future.”
Daekyo Investment has been investing since the seed stage of SpaceV. Park Hyung-jun, CEO of Space V, said, “As a leading company in the short-term real estate rental market, we will take responsibility and lead changes in the market.”
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