Pegaxis: An integrated solution for Singapore’s realtors
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 sgfixit.com, 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.