This fundraising comes at a time when Vietnam’s startup landscape, particularly the proptech sector, is facing significant headwinds, including a lack of new deals and waning investor confidence.

While many startups have scaled down, pivoted, or exited the market, Citics has continued to grow steadily thanks to a proven business model and a clear development roadmap.

The company is currently focused on digitising the entire real estate transaction journey, from valuation and mortgage lending to buying and selling, with the goal of making these processes simpler, more accessible, and more transparent for all stakeholders.

Citics was founded with a clear mission to bring greater transparency and efficiency to real estate transactions in Vietnam, starting with mortgage property valuation, a process long criticised for being slow and inconsistent.

The company developed Vietnam’s first Automated Valuation Model (AVM), enabling banks to assess property values quickly and accurately.

Citics' AVM has become the trusted partner of over 32 banks nationwide in mortgage lending operations. This valuation platform also serves as the backbone for Citics’ expansion into other services, particularly in property transactions and investment, where data accuracy and standardisation are critical.

Real estate mortgage lending remains a complex and time-consuming process for most borrowers. To address this, Citics has launched Citics Mortgages, a fully digital platform that streamlines the lending process, allowing customers and brokers to easily check borrowing capacity based on collateral value, personal conditions, and loan offers from multiple partner banks.

The system provides transparent information on loan amounts, interest rates, fees, and processing times, enabling users to compare options, submit applications online, and track their loan progress in one app. Monthly disbursement volumes via the platform have already surpassed VND 1 trillion (approx. $40 million), reflecting strong market adoption.

In parallel, Citics is piloting Citics Homes, a new real estate transaction platform that initially helps banks liquidate distressed assets, while gradually expanding service offerings to build a full digital real estate ecosystem. This service, along with Citics’ broader ecosystem, is built on a proprietary real estate database of over 33 million digitised properties across 38 provinces, an essential infrastructure for delivering consistent, transparent, and efficient valuation, lending, and transaction services.

Nguyen Hoa Chung, a representative from TVS, commented that Citics owns one of the most comprehensive and standardised real estate data platforms in Vietnam today.

“This is the critical infrastructure needed to revolutionise how users access and complete real estate transactions online. It's a rare combination of vision, execution ability, and strategic positioning in a market hungry for innovation," Chung said.

Citics was founded in 2018 by Tran Minh Long, who brings over 15 years of experience in real estate and was named in Forbes Vietnam’s 30 Under 30.

Citics operates in more than 30 provinces with a network of over 4,000 agents. This new investment will help Citics accelerate its development of real estate financial products, integrate AI into its platform, and expand its partner network nationwide, bringing it closer to becoming a one-stop platform for all real estate needs in Vietnam.