LiveIn, Malaysia’s leading long-stay provider, proudly announces significant investment from Korean Investment Partners (KIP), Korea’s largest venture capital firm with USD 3.2 billion in assets under management. This USD 2.6 million extension of LiveIn’s pre-Series B funding round, which builds on an earlier USD 8.3 million round, underscores LiveIn’s commitment to transforming urban living in Southeast Asia.
Boosting Regional Expansion with Pre-Series B Funding
The new funding complements LiveIn’s previous pre-Series B round in December, led by InterVest, one of Korea’s top 5 funds and a General Partner (GP) of the Korea Development Bank (KDB), which has assets under management of around USD 250 billion. Both KIP and InterVest, esteemed GPs of the KDB, will bolster LiveIn’s position in the property market.
“LiveIn is thrilled to welcome Korean Investment Partners as a strategic investor,” said Keek Wen Khai (Khai), Co-Founder and CEO of LiveIn. “This partnership, along with support from InterVest and other global investors, propels us toward our goal of creating vibrant, affordable communities for young adults in Southeast Asia.”
LiveIn’s Mission: Affordable Housing for 60 Million Young Adults
LiveIn’s innovative model transforms vacant properties into fully furnished, long-stay rental homes through its Offline to Online (O2O) managed platform. By leveraging second-tier locations and offering below-market rates, LiveIn enables students and young professionals to live affordably in urban centres without sacrificing quality.
“There are 60 million young adults in Southeast Asia who relocate to economic centres for better opportunities but are often priced out of quality housing,” Khai added. “Our mission is to bridge the gap between property owners and young renters by providing accessible, community-centric housing solutions. With support from investors like KIP, we can expand our regional footprint and positively impact our residents’ lives.”
Expanding Success to New Markets
LiveIn has achieved impressive success with its unique long-term rental approach, maintaining an average occupancy rate of 90% in Malaysia, Thailand, and Vietnam. This strategy boosts rental income for property owners and provides tenants with affordable, quality housing, ensuring scalability and profitability for LiveIn.
LiveIn has streamlined the tenant onboarding process and improved property management, offering services like fully furnished rooms, concierge services, and community events. The company plans to introduce new features and establish strategic partnerships to strengthen its market position.
In Vietnam, LiveIn replicated its successful model by launching its first building in Ho Chi Minh District 9, achieving full occupancy within 40 days. Two more buildings are set to launch this quarter. In Thailand, LiveIn manages over 20 buildings with nearly 2,000 rooms. An internal survey showed 100% confidence from Thai building owners in LiveIn’s ability to drive demand.
Building on this momentum, LiveIn plans to expand into Indonesia by 2024 to meet the evolving needs of young city dwellers.
Global Investment and Leadership Enrichment
In addition to KIP, InterVest, and Wavemaker Partners, LiveIn has attracted investments from prominent global investors in Singapore, Japan, Korea, Malaysia, and the US. This global appeal highlights LiveIn’s strong growth trajectory. Eric Manlunas, Co-founder and General Partner of Wavemaker, has joined LiveIn’s Board of Directors, bringing extensive industry experience to the leadership team.
For more information about LiveIn and its commitment to affordable, community-driven housing solutions, please visit livein.com.
