Singapore-based real estate investment platform RealVantage has raised US$10 million ($12.96 million) in a Series A funding round. In a Dec 8 release, the company states the funding round, which values the company at US$70 million, was oversubscribed.

Investors include three family offices, one of which is the family office linked to Soilbuild Group Holdings. Excess demand from investors resulted in some secondary shares being sold, RealVantage adds. 

“The strong vote of confidence from new investors reinforces our mission: to continue advancing our mandate of making institutional-grade real estate investing far more accessible, transparent and rewarding for everyone across the globe,” remarks Keith Ong, RealVantage’s co-founder and CEO.

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The company says funds raised will be deployed towards new investment products and advancing its AI-powered platform. Funds will also be channelled towards regional growth, starting with Hong Kong. RealVantage’s Hong Kong business will be led by Ivan Ho, former CEO for Hong Kong at real estate investment manager KaiLong, with veteran Hong Kong banker Edmund Ho providing strategic guidance.

RealVantage has raised over $400 million in investments since its inception in April 2019, with over 130 deals completed across seven global markets. It currently has over 10,000 members from 58 countries on its platform. The company, through its entity RV SG, holds a Capital Markets Services license from the Monetary Authority of Singapore.