Citics, a real estate technology platform in Vietnam, has raised $2.1 million in a new funding round backed by TVS, Ai Viet Ventures, and returning investors Vulpes Ventures and Vietnam Investments Group.
The funding comes amid a slowdown in Vietnam’s startup ecosystem, particularly in the proptech sector, where deal flow has contracted.
Despite the challenging environment, Citics continues to grow, leveraging a proven business model focused on digitizing the end-to-end real estate transaction process — from valuation and mortgage lending to property buying and selling.
Founded in 2018, Citics developed Vietnam’s first automated valuation model (AVM), which now serves over 32 banks nationwide.
Building on its valuation foundation, the company launched Citics Mortgages, a digital platform enabling customers to compare loan offers, assess eligibility, and complete applications online. Monthly loan disbursements through the platform have exceeded VND1 trillion ($39 million).
Citics is also piloting Citics Homes, a platform initially focused on selling foreclosed properties for banks, further expanding its digital services.
The company’s proprietary real estate database — covering more than 33 million properties across 38 provinces — underpins its offerings.
The new capital will be used to develop additional real estate financial products, integrate artificial intelligence capabilities, and expand Citics’ partner network nationwide.
Led by founder Tran Minh Long, a Forbes Vietnam 30 Under 30 honoree, Citics aims to become Vietnam’s one-stop digital platform for real estate transactions.
Business News Asia
