Tokyo-based Chintai Joho Co., the startup behind apartment search portal Cashback Chintai, announced today that it has fundraised 100 million yen (about $849,000) from Dentsu Digital Holdings, the stock holding company of the Japan’s largest ad agency, and SMBC Venture Capital.
Launched in November 2013 in beta, the platform listed more than 1.2 million properties as of last March. It now has over 1.8 million properties. Chintai Joho managing director Shoji Endo said it will hit the 2 million mark shortly thanks to additional features.
The company will start working with aforementioned two investors in promoting business and alliance with other companies around rental property information. They will use the funds raised at this time to strengthen promotional efforts and other activities.
Their portal allows property agents to list apartments on a pay-per-performance basis, which doesn’t require them to pay any adverting fee until a contract is made with a tenant. After a contract for an apartment via the website is concluded, some ‘housewarming’ reward money will be provided. At this time, the property company can be notified that a deal was been made via the website, because they are billed at this time.
They launched a web magazine focused on lifestyle called Single Hack in December, exploring some additional ways to better reach potential users including content marketing and search engine optimization.
Chintai Joho was recently qualified to take part in T-Venture Program, the incubation program by Japan’s largest entertainment business conglomerate Culture Convenience Club (CCC). Leveraging this opportunity, they are planning to reach CCC’s membership base of about 50 million people.
Translated by Masaru Ikeda
Edited by “Tex” Pomeroy