Real estate app Nemo’s developer receives USD 3M to support small business founders

On Oct 21, Sugarhill, the company that developed the real estate platform app, Nemo, said that they closed a funding round A worth USD 3 million. Investors include K-cube Ventures, Geon Investment, and KEB Hanabank.

Nemo, a service that allows individuals and companies to advertise offices, buildings, and shared offices for rent, was released last April. It allows users to upload photos and manage space rental.

In seven months after the app was released, over 32,000 available offices were uploaded and over 1,600 companies signed up to create accounts. More than 180,000 users also signed up. The platform is getting more sophisticated after releasing a feature that collects big data in business districts with more precise big data including information on certain areas categorized by residences, category of business, and revenue.

Yongil Lee, CEO of Sugarhill, said that Nemo is a service with an easy approach and transparent information with real time updated data on offices and buildings that are available to rent. He added that they will support small business founders and lead commercial real estate markets in a more efficient way.

Sina Jeong, partner from K-cube Ventures, who was in charge of this funding round mentioned that the founding team of Sugarhill has hands-on experience with the residential real estate service called Da-bang so the business has been rapidly growing. She also said that the investment was spurred by a huge demand from the customer side.

Sugarhill received USD 1.2 million of funding in July 2016 by K-cube Ventures and Geon Investment. The accumulated amount of funding is USD 4.2 million.

This article, entitled “Real estate app Nemo’s developer receives USD 3M to support small business founders”, was written in Korean by Platum, edited by AllTechAsia.

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