Pe­gaxis: An in­te­grated so­lu­tion for Sin­ga­pore’s re­al­tors

Singapore Business Review - - STARTUPS -

As the real es­tate sec­tor seeks sig­nif­i­cant ex­pan­sion in the past years, the de­mand­sup­ply bal­ance is con­stantly on the brink of putting a strain on real es­tate trans­ac­tions. “Sourc­ing for quo­ta­tions is highly repet­i­tive and te­dious, and could take up to three to four weeks,” shares Ted Poh Chen Wei, chief ex­ec­u­tive of­fi­cer and founder of Pe­gaxis, a Sin­ga­porean on­line prop­erty man­age­ment plat­form. “There is also a lack of trans­parency over the pro­cure­ment process, as much of the process is done man­u­ally,” he adds.

Pe­gaxis, which claims to be Sin­ga­pore’s first and only B2B prop­erty man­age­ment mar­ket­place, was founded by a rel­a­tively young team con­sist­ing of Poh (28), Lim Jun Roong (29), and Jacky Chong Foh Wooi (41). Start­ing out as a list­ing di­rec­tory of lo­cal con­trac­tors called sg­, the busi­ness then adopted a mar­ket­place model, us­ing the name Pe­gaxis in 2016.

Pe­gaxis helps prop­erty man­agers ob­tain quo­ta­tions for prop­erty-re­lated ser­vices in a struc­tured and trans­par­ent man­ner, and the en­tire pro­cure­ment process is track­able. Pe­gaxis also pro­vides man­age­ment tools to boost ef­fi­ciency. “With our pro­cure­ment tools, prop­erty man­agers also min­imise the amount of pa­per­work they have to cre­ate to doc­u­ment the pro­cure­ment ac­tiv­i­ties,” notes Poh.

The com­pany is now able to get three to seven quo­ta­tions in un­der a week. With cur­rent fund­ing of S$260,000, Pe­gaxis is hope­ful to fur­ther grow in the next few years. Amongst its new­est clients is Sgx-listed LHN Group. Poh says their plan is to ex­pand the plat­form of­fer­ing by im­ple­ment­ing new fea­tures and ex­pand to more coun­tries.

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