Malaysian venture capital firm, TBV Capital together with angel investors, have invested an undisclosed 6-figures amount into Malaysian-based company: iCARES.
iCARES is an integrated property management application with a focus on enabling a paperless, safe, and convenient living experience for resident communities across Malaysia and Singapore.
The fresh injection of funds will allow iCARES to expand to new markets, as well as introduce a new payment system for users.
Users will be able to pay management fee effortlessly via iCARES, including utility bills, phone bills, and much more — simplifying the overall management and convenience for residents.
Since its inception, iCARES now serves over 20 communities in Johor Bahru and is currently expanding to more cities across Malaysia and Singapore.
By June 2020, the company expects to launch a broad array of on-demand services to provide a fully integrated and customized community-oriented booking system for every resident.
“Property management platforms are expected to become more technology-intensive as owners and managers continue to demand new and better functionalities. Given the expanding property rental market, new technologies, particularly artificial intelligence, We believe there is tremendous potential in this market across the region and see incredible potential in the service being deployed in more places across more cities.” said Andrew Tan, Managing Partner of TBV Capital.