SOUTHEAST ASIA BUILDING31 Dec 2021
Livspace acquires majority stake in Qanvast
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Singapore – Livspace, Asia’s largest omni-channel home interior and renovation platform, announced a strategic investment in Qanvast on 29 December 2021. Both Livspace and Qanvast share strong brand synergies and a common vision to transform the home interiors and renovations space while creating exciting new opportunities for design and architecture professionals. Tapping on Livspace’s expertise and network will allow Qanvast to scale rapidly in Singapore and expand internationally while continuing to be the neutral and independent platform which is the core of its business model.

Anuj Srivastava, CEO & Founder of Livspace said: “Singapore is a key market for Livspace given its status as a global financial hub, capabilities in technology and innovation, as well as its well-developed built environment sector. We’ve seen tremendous growth in Singapore because customers are technologically savvy, open to exploring new offerings, and discerning about the choices they make. The investment in Qanvast helps sharpen our offerings in the region. With Singapore as our headquarters, we are strategically expanding our presence across the globe while strengthening our operations in APAC and launching in new markets such as MENA and Australia.”

Daniel Lim, Co-Founder of Qanvast added: “We are very excited about this partnership with Livspace. Our common vision to reshape the regional home renovation industry will accelerate the growth of the business through expertise and network sharing. Together with Livspace, we are excited to write the next chapter in Qanvast’s growth story.”

Qanvast has emerged as one of the top platforms for home remodelling and design that connects homeowners and trusted home professionals in a visually stimulating environment. The brand has made it easy for the homeowners to get design inspiration, expert advice and professional reviews and quotes they need to turn a house into a home. Since its launch, Qanvast has served over 100,000 homeowners and partnered with more than 300 designers and brands.Overall Qanvast has garnered over 5000 homeowner reviews and 100,000 localised project images and this has created the most comprehensive image and reviews database for homeowners in the region.

The collaboration with Qanvast marks a leap forward in Livspace’s aggressive expansion plans within the APAC region. As consumers shift towards new-age, digital-first brands, Livspace has achieved a leadership position in the region. The company has witnessed tremendous growth in the region and Singapore will serve as a launchpad for a wider presence across all of SE Asia. Through an end-to-end home interiors and renovation service, Livspace has created a one-stop home renovation platform. Livspace’s proprietary technology streamlines the supply chain of products and services, building synergies between OEMs, brands, certified designers, contract manufacturers and general subcontractors on the platform.