Instahome

Instahome was a digital platform in Malaysia's property technology sector, aiming to streamline the home rental process for tenants, agents, and landlords. The company was founded in September 2020 by Patrick Grove, a co-founder of Catcha Group, and Eric Tan, who became the CEO. The founders' venture into this market was driven by their personal frustrations as both a landlord and a tenant with the conventional rental process in Malaysia, which was often hindered by inaccurate listings and cumbersome manual procedures. Grove had prior success in the proptech space, having co-founded iProperty Group, which was later acquired by REA Group. Tan, an alumnus of The London School of Economics and Political Science, previously served as Grove's chief of staff at Catcha Group and founded a live-streaming app.

The company launched with a seven-figure investment from Catcha Group, Tan, and early employees, initially focusing its operations on the Klang Valley. Instahome's business model was designed as an end-to-end digital solution for the home rental market. It addressed common problems by personally visiting and verifying all properties before listing them, eliminating fake or duplicate listings and ensuring the accuracy of photos. The platform offered features such as 3D virtual tours, online scheduling for home viewings, digital tenancy agreements, and online rent payments. For landlords, the service promised better tenant quality and offered protection through a partnership with Tune Protect, providing insurance coverage against issues like runaway tenants and property damage. The revenue model involved charging a smaller, tax-deductible monthly fee to landlords instead of a large upfront commission.

Targeting students, young professionals, and families, Instahome sought to compete with established property classified sites like PropertyGuru and iProperty. Despite its ambitions to expand across Malaysia and into other Southeast Asian countries, Instahome ceased operations in August 2022. Reports suggest the closure was due to difficulties in securing additional funding.

Keywords: property technology, proptech Malaysia, home rental platform, digital tenancy, online rent payment, landlord insurance, tenant screening, virtual property tours, real estate services, Klang Valley rentals, Patrick Grove, Eric Tan, Catcha Group, end-to-end rental, rental management, property listings, verified listings, digital real estate, rental market, landlord services