Singapore’s proptech firm Ohmyhome files for $15 million IPO at a valuation of $88 million

Ohmyhome co-founders Race Wong (L) and Rhonda Wong

Singapore-based Ohmyhome has filed for an initial public offering (IPO) in the United States valued at about $88 million, according to multiple reports.

The real estate tech company wants to raise up to $16.25 million and offer 3.25 million shares at $4 to $5 a share.

The shares will be listed on the Nasdaq under the ticker “OMH”.

Spartan Capital Securities is the lead managing underwriter and bookrunner for the IPO.

Also Read: Ohmyhome Aims to Address Issues of Lack of Transparency and Unreliable Agents in the Philippine Real Estate Market

In the filing, Ohmyhome said it had revenue of $2.4 million for the first half of 2022, compared to $1.7 million for the first half of 2021. Net loss for the first half of 2022 increased from $365,000 -dollars doubled to $700,000 last year.

Founded in September 2016 by sisters Rhonda and Race Wong, Ohmyhome connects buyers and sellers directly and free of charge. The platform offers features like “ShoutOut” and “Open House” to enhance the overall user experience. It operates on a hybrid model – a do-it-yourself (DIY) platform and full-fledged agency services.

The company has offices in the Philippines, Singapore and Malaysia.

In August last year, Ohmyhome secured $5 million in funding from local investor Swettenham Blue. Two years earlier, Ohmyhome raised $2.9 million in a Series A round led by Golden Equator Capital.

Fundraising or preparing your startup for fundraising? Build your investor network, search among 400+ SEA investors on e27 and connect or get fundraising insights. Try e27 Pro for free today.

Singapore-based proptech firm Ohmyhome filed a $15 million IPO with a valuation of $88 million and appeared first on e27.