Funcent's Cloud Appraisal System is a data workflow and price enquiry platform designed for valuation companies. It has also developed a risk management platform for mortgage lenders to manage their property lending portfolios.
Stephen Stout, CEO of dmg information Asia Pacific said, "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."
Jason Sun Yie, CEO of Funcent said, "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."
dmg information will increase its stake in Fucent over the next few years. The funds raised will be used to expand Funcent across China and further penetrate the commercial real estate market in Beijing and Shanghai.