Soft Space Co-Founder’s New Proptech Startup Raises RM 5 Million in Seed Fundby Vincent Fong April 18, 2019 2 comments
DAX Venture is the latest startup to throw its hat into Malaysia’s burgeoning proptech scene. It announced today that they have successfully raised RM 5 million in seed funding for its subsidiary RentDax.
The company is co-founded by successful fintech entrepreneur Chang Chew Soon who served as the Group CEO of Soft Space and Timothy Hor a former General Manager of iProperty.
Timothy shares that rentDAX’s goal is to make renting easier, safer, and hassle-free for both landlords and tenants.
He further elaborated that landlords in their platform will enjoy protection provided under their rentProtect scheme that is powered by Tune Insurance.
Tenants are carefully screened using their proprietary rentDAX scoring algorithm which is built upon the standard credit checks such as CTOS and CCRIS.
Echoing Timothy’s points Chew Soon shares that at the core of it, the startup’s goal is to connect good tenants with good landlords, regardless of race, nationality, or religion.
With this newly launched platform Chew Soon shared that landlords can sign up on rentDAX and easily upload their properties for rent using only their mobile phone and connect to tenant who match their requirements.
He further adds that with rentDax either landlord or tenant can communicate, schedule appointment, capture the inventory list, sign the rental agreement, and pay 2-month upfront rental — all on the platform.
According to their press release, rentDAX is the first of four platforms in the DAX Property Ecosystem to go live. The other three platforms, loanDAX, propDAX, and r2oDAX (rent-to-own) are scheduled to be launched in the 3rd and 4th quarter of 2019.