KUALA LUMPUR, Malaysia, May 28, 2024 /PRNewswire/ -- LiveIn, Malaysia's leading long-stay provider, proudly announces a significant investment from Korean Investment Partners (KIP), the largest VC in Korea with AUM of $3.2 billion USD. This extension of LiveIn's pre-Series B funding round, totalling $2.6 million USD, is an extended top-up investment from the earlier $8.3 million USD round which underscores LiveIn's commitment to revolutionizing urban living in Southeast Asia.

Extension of Pre-Series B Funding Fuels Regional Expansion

This new funding complements LiveIn's previous pre-Series B funding round in December, which was led by InterVest, one of Korea's top 5 funds and a royal General Partner (GP) of the Korea Development Bank (KDB), with AUM around $250 billion USD. KIP and InterVest, both esteemed royal GPs of the KDB, will further solidify LiveIn's position in the property landscape.

"LiveIn is thrilled to welcome Korean Investment Partners as a strategic investor," said LiveIn Co-Founder and Chief Executive Officer Keek Wen Khai (Khai). "This partnership, alongside the backing of InterVest and other esteemed global investors, propels us closer to our goal of creating vibrant, affordable communities for young adults in Southeast Asia by shaping a better living experience for them."

LiveIn's Mission: Addressing 60 Million Young Adults' Urgent Need by Transforming Existing Vacant Properties into Affordable Housing

LiveIn's unique model transforms vacant properties into fully furnished, long-stay rental homes through its innovative Offline to Online (O2O) managed platform. By leveraging second-tier locations and offering rates significantly below market standards, LiveIn empowers students and young professionals to pursue their dreams in urban centres without compromising on affordability or quality of living.

"There are 60 million young adults in the Southeast Asian region, of which many relocate to economic centres in search of better opportunities but are often priced out of quality housing options. At the same time, owners of older buildings face a dwindling return due to newer, more competitive offerings. Our mission is to bridge the gap between property owners and young renters by providing accessible, community-centric housing solutions," he added. "With the support of our investors, including Korean Investment Partners, we can push forward in aggressively increasing our footprint in the region and continue making a positive impact on the lives of our residents."