19th May 2015
dmg information Asia Pacific invests in Chinese property data company Funcent
dmg information Asia Pacific is announcing its first investment into the Chinese property information market. dmg information is the B2B subsidiary of DMGT, a global investor in media and information with $3bn of revenues quoted on the London Stock Exchange.
dmg information has made a strategic investment in Funcent and will increase its stake in the business over the next few years. Funcent is a third party information provider specializing in providing data and workflow solutions to real estate valuation companies and commercial banks in China. It currently mainly serves the residential market, but it is expanding into the commercial real estate market.
Funcent was established in 2010 and it is based in the southern Chinese city of Shenzhen. Its Cloud Appraisal System (CAS) is a subscription based mobile SaaS data workflow and price enquiry platform designed for valuation companies. They have also developed a risk management platform for mortgage lenders to manage their property lending portfolios and recently won their first major customer.
The funds raised will be used to expand further the Funcent sales and marketing capability right across China and further penetrate into valuation companies and mortgage banks based in Beijing and Shanghai.
Stephen Stout, CEO of dmg information Asia Pacific said, ‘we are delighted to have the opportunity to enter the Chinese property information market with Funcent, which is a business we believe has great potential to rapidly expand in the next few years. With our knowledge of the property markets in other countries and the similarity of the Funcent products to those provided by other dmg information companies, we believe we can bring considerable value to the business and this is why Funcent chose to work with us’.
Jason Sun Yie, CEO of Funcent said, it is a great moment in the Funcent story for us to have an investor such as DMGT. We look forward to a long and mutually beneficial relationship, as we work to establish our company as the market leader in the provision of property valuation data in China.
About dmg information
dmg information (dmgi) comprises a portfolio of B2B, high growth, innovative, must-have information media businesses in the property, education, energy, commodity and structured finance sectors, primarily in the US and Europe, but expanding globally.
DMGT is an international business built on entrepreneurship and innovation. We bring together leading companies and talented people to provide businesses and consumers with high-quality analysis & insight, information, news and entertainment.
Group revenues are split across our five operating businesses.
The B2B businesses are:
Risk Management Solutions (RMS)
Euromoney Institutional Investor plc
The Consumer business, known as dmg media, includes:
The Daily Mail and The Mail On Sunday
We also hold shares as joint ventures or associates. These include
Zoopla Property Group* (Zoopla & Prime Location)
DMGT’s ambition is to provide the highest quality content and services, across the most attractive growth markets in innovative, responsible and sustainable ways, building on its track record of earnings and dividend growth.