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The start-up converts vacant properties into fully furnished, long-stay rental homes
May 31, 2024 | Staff Reporter | Malaysia | PropTech
LiveIn, a prominent long-stay provider in Malaysia, has secured a crucial investment from Korean Investment Partners (KIP), the largest venture capital firm in Korea, managing assets worth $3.2 billion USD. This $2.6 million USD extension to LiveIn’s pre-Series B funding round builds on an earlier $8.3 million USD investment, reinforcing LiveIn’s mission to transform urban living across Southeast Asia.
This recent funding complements LiveIn’s previous pre-Series B round in December, led by InterVest, one of Korea’s top venture funds and a General Partner (GP) of the Korea Development Bank (KDB), managing $250 billion USD in assets. Both KIP and InterVest, as GPs of KDB, strengthen LiveIn’s position in the property market.
“We are delighted to welcome Korean Investment Partners as a strategic investor,” said Keek Wen Khai, Co-Founder and CEO of LiveIn. “With the support of InterVest and other global investors, we are closer to achieving our vision of creating vibrant, affordable communities for young adults in Southeast Asia.”
LiveIn converts vacant properties into fully furnished, long-stay rental homes through its innovative Offline to Online (O2O) managed platform. By focusing on second-tier locations and offering competitive rates, LiveIn allows students and young professionals to pursue urban opportunities without sacrificing affordability or quality of living.
“There are 60 million young adults in Southeast Asia relocating for better opportunities but often facing unaffordable housing. Our goal is to bridge this gap by providing community-centric housing solutions,” added Khai. “With the support of investors like Korean Investment Partners, we can expand our reach and positively impact more lives.”
Impressive Occupancy Rate
LiveIn’s unique approach has led to an impressive average occupancy rate of 90% in Malaysia, Thailand, and Vietnam. This model benefits property owners with higher rental incomes and offers tenants affordable, quality housing. LiveIn enhances tenant onboarding, property management, and additional services such as fully furnished rooms and community events. The company aims to introduce new service features and form strategic partnerships to strengthen its market position.
There are 60 million young adults in Southeast Asia relocating for better opportunities but often facing unaffordable housing. Our goal is to bridge this gap by providing community-centric housing solutions.
Keek Wen Khai, Co-Founder and CEO of LiveIn
LiveIn has successfully entered the Vietnam market, modernizing unoccupied buildings and achieving full occupancy within 40 days of launching its first building in Ho Chi Minh District 9. The company plans to launch two more buildings this quarter. In Thailand, LiveIn manages over 20 buildings with nearly 2,000 rooms, with a recent survey indicating 100% confidence among building owners in LiveIn’s ability to drive demand.
Boosted by the latest funding, LiveIn plans to enter the Indonesian market by 2024, addressing the evolving needs of young urban dwellers. Between December 2023 and February 2024, LiveIn attracted investments from global investors in Singapore, Japan, Korea, Malaysia, and the US, highlighting its global appeal and strong growth trajectory. Eric Manlunas, Co-Founder and General Partner of Wavemaker Partners, has joined LiveIn’s Board of Directors, adding valuable industry expertise to the leadership team.
