MDV and LiveIn strengthen partnership with third financing agreement

Malaysia Debt Ventures Berhad (MDV), a subsidiary of the Minister of Finance (Incorporated) [MOF (Inc)], has entered into a third financing agreement with the innovative proptech company LiveIn. This strategic partnership aims to provide financial support for LiveIn’s working capital and capital expenditure in Malaysia, along with facilitating its aggressive expansion into Thailand. The financing is a testament to the successful collaboration between MDV and LiveIn, which began in 2021 through MDV’s Venture Debt program.

LiveIn, a leading proptech company, focuses on making affordable and comfortable long-stay housing accessible to young people in Southeast Asia. Through its Offline to Online (O2O) managed platform, LiveIn transforms existing properties into fully furnished, affordable long-stay rental homes, catering specifically to individuals aged 18 to 30.

The recent funding round complements LiveIn’s previous investments from global investors in Singapore, Japan, Korea, and the US. This collaboration aims to drive LiveIn’s strategic expansion within the region and aligns with the company’s vision of creating vibrant, inclusive long-stay rental communities.

Making affordable housing accessible

LiveIn’s CEO & Co-founder, Keek Wen Khai, expressed enthusiasm for the funding, stating, “This fresh injection of funds reinforces our confidence in our expansion strategies and provides us with additional resources to speed up our investments in the region. Our mission is to address urgent issues of affordable housing for young people.”

LiveIn initially ventured into Thailand in 2020 during the challenges of the COVID-19 pandemic. The company focused on building relationships with property owners and developers to increase the availability of affordable rooms. This move positioned LiveIn to tap into the growing demand for affordable long-stay rentals as economies in the region resumed normalcy.

Thailand is a crucial market for LiveIn, given Southeast Asia’s vast working-age population of over 680 million, where more than half are under 30. LiveIn’s unique value proposition addresses this demographic by offering affordable and comfortable housing, aligning with the region’s rapid economic growth.

Supporting high-impact sectors

MDV, established to support the development of technology and high-impact sectors in Malaysia, sees its financing of LiveIn as a step toward fostering the growth of homegrown technology start-ups. Nizam Mohamed Nadzri, CEO of MDV, emphasized, “This funding represents a pivotal step in bolstering the growth of Malaysian tech start-ups, emphasizing the strength and capability of Malaysia’s technology sector in the global market.”

LiveIn plans to utilize the newly injected funds to accelerate its expansion into Thailand and support key strategic initiatives, including human capital investment, product development, and comprehensive tenant support services. The company remains committed to its mission of providing affordable housing solutions and fostering long-stay communities.

In addition to the financing agreement, LiveIn is actively seeking partnerships and additional funds to enhance its range of offerings and improve its O2O technology platform. The company will initiate a Series B fundraising round later this year to further support its ambitious growth trajectory.