Urbanmetry, an AI-driven city and property data company, has closed a pre-Series A round of USD2 million led by Monk’s Hill Ventures.
The funding will be used for developing its intelligent data products and platforms to serve end consumers in the property and mortgage markets; and for building out its product, technology, data, and business development teams.
In addition to providing data and insight to institutional clients, Urbanmetry also offers products for the homeowner. To assist homebuyers in making their mortgage commitment, Urbanmetry has launched Nowcast, an AI-driven service that helps homebuyers forecast the value of their homes based on machine learning from 90 city data variables. Nowcast reports are available through banks in Malaysia to mortgage applicants today.
With the funding, Urbanmetry will accelerate the development and adoption of its mortgage data products and platform. The company also plans to expand its repertoire of city databases to other Southeast Asian cities.
Investors in the previous round include 500 Global, 500 Southeast Asia, and Reapra.