What Homepay Pte. Ltd. does

HomePay operates a Singapore-based renovation escrow platform.

Name

Homepay Pte. Ltd.

Legal name

HomePay Pte Ltd

Website

https://homepay.sg

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

HomePay is a Singapore-based escrow payment platform for home renovation projects.

Ownership category

akta.pro rank

Product category

Renovation Payment Platform

SIC

Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Home Improvement & Contractor POS Financing (FSAKAFAJ)

Keywords

• Renovation escrow payments
• Home renovation fintech
• Interior design payments
• Escrow payment platform
• Construction payment protection

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Homeowner Administration Fee: One-time administration fee of $200 charged to homeowners to secure their renovations.
2. Credit Card Transaction Fees: 2% transaction fee on credit card payments (MCC 5712 - Equipment, Furniture and Home Furnishing Stores). Lower than other BNPL platforms offering similar services.
3. Interior Designer Transaction Fees: Transaction fees charged to ID firms starting at 1.9% per transaction, decreasing to 1.5% as firms progress with more projects on the platform.
4. Bank Transfer and PayNow (Zero Fee): Zero transaction fee payment methods supported - PayNow for first payments/deposits and bank transfers as alternative to credit cards.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels5 records

Core offering

HomePay is a Singapore-based renovation-exclusive escrow payment platform that securely holds homeowner funds via a MAS-licensed Major Payment Institution wallet backed by a DBS custodian account. Payments are released progressively to interior designers only after homeowners approve completed milestones, providing a regulated trust layer between parties. The platform also offers HomeProtect, an add-on that ensures project completion if the contracted ID firm ceases operations, and an ID Directory that connects homeowners with verified interior designers.

Product overview

HomePay is a Singapore-based renovation payment platform consisting of two consumer-facing mobile apps (HomePay App for homeowners and HomePay for Business for interior designers) plus two complementary services. The core offering is an escrow-based payment system where homeowner funds are held securely and released in tranches upon milestone approval. HomeProtect provides additional guarantor coverage for project completion if the ID firm ceases operations. The ID Directory serves as a marketplace of verified interior designers. The platform is powered by a MAS Licensed MPI and funds are held in a DBS custodian account.

Differentiator

Problem solved

Functional benefit

Brands

• HomeProtect: A protection feature automatically activated when a homeowner e-signs a contract with their interior designer on the HomePay app, ensuring renovation completion even if the ID firm ceases operations, at no additional cost to the homeowner.

Products and services

• HomePay App Free mobile application for Singapore homeowners to safely pay interior designers via milestone-based escrow funded by a MAS-licensed wallet with DBS custodianship.
• HomePay for Business Mobile platform for Singapore interior designer firms to receive milestone-based renovation payments from homeowners through a regulated escrow infrastructure, with tiered transaction fees and account management support.
• HomeProtect Add-on protection product that guarantees completion of the homeowner's renovation project in the event the contracted interior designer firm stops operating.
• ID Directory Directory of over 150 verified interior designer firms in Singapore, made available to homeowners through the HomePay App to help them discover and engage trusted contractors.

Quantifiable outcome

• 91% of Singaporeans more likely to engage an ID with HomePay
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Seven partnerships are on record, tiered major, core and minor.

• ERA Realty NetworkmajorGTM or Marketing Partner · 12 November 2024HomePay and ERA Realty Network partnered to bring safer, transparent renovations to Singaporean homeowners and agents. The partnership aims to transform Singapore's renovation industry by providing secure payment solutions through ERA's real estate agent network.
• Excel HardwarecoreStrategic or Co-development Partner · 29 November 2023Excel Hardware, a leading hardware, furniture and tools supplier in Singapore since 1998, committed to onboarding all their Excel Preferred Partner (EPP) IDs to HomePay. EPP IDs are among the best in the industry with qualified track records meeting Excel Hardware's stringent standards. MOU signing marks significant step toward eliminating renovation nightmares in Singapore.
• EZiDcoreGTM or Marketing Partner · 29 November 2023EZiD is Singapore's leading renovation platform connecting homeowners directly to top interior designers. Led by Ryan Tan from Overkill, EZiD joined forces with HomePay to amplify marketing and branding. EZiD utilizes their platform to reach more homeowners and showcase HomePay's benefits, increasing awareness and adoption.
• DBS BankcoreTechnology or IntegrationAll renovation funds are securely held in a DBS custodian account. HomePay's wallet system is powered by MAS Licensed MPI and securely stores customer funds in DBS. Funds are held in escrow and released according to renovation agreement terms.
• MatchMovecoreTechnology or IntegrationMatchMove provides payment processing infrastructure for HomePay. Payment data including payment instrument numbers and security codes are stored by MatchMove. Users must accept MatchMove Terms of Service during signup.
• SingPasscoreTechnology or IntegrationSingapore's national digital identity system used for quick account signup. Homeowners and IDs can sign up in seconds using SingPass authentication, reducing onboarding friction for Singapore residents.
• Singapore FinTech Association (SFA)minorOthersHomePay is a member of the Singapore FinTech Association (SFA), as shown by the SFA member logo displayed on their website footer.

Scale indicators5 records

Recent moves3 records

Expansion highlights2 records

Direct peers

• Recommend.my: Singapore home renovation and services marketplace connecting homeowners with verified contractors and interior designers. Comparable target customer (SG homeowners) and marketplace model with trust/vetting features.
• EZiD: Singapore-based renovation platform that connects homeowners directly to interior designers. EZiD is a HomePay GTM partner that actively promotes HomePay to its network, and operates in the same Singapore homeowner-ID matching space.

Broad incumbents

• GrabPay: SEA super-app consumer wallet with deep Singapore penetration. Could disintermediate HomePay by offering escrow-style payment features for high-value services using existing user base and merchant rails.
• Atome: Leading SEA BNPL platform owned by Advance Intelligence. Operates across Singapore and broader SEA with payment-fee economics similar to HomePay's credit card fee structure and could expand into renovation vertical.
• PropertyGuru: Singapore's largest property marketplace. PropertyGuru owns the upstream lead funnel for new homeowners who need renovation, making it a potential distribution partner or competitor if it builds renovation payment features.

Others

• MatchMove: Singapore-based wallet-as-a-service provider and HomePay's payment infrastructure partner. Comparable wallet/MPI technology stack and Singapore payments licensing footprint.
• ERA Realty Network: Major Singapore real estate agency network and existing HomePay GTM partner. Provides downstream homeowner lead access at scale and represents both a distribution channel and a potential incumbent competitor.
• DBS Bank: HomePay's custodian bank partner and Singapore's largest bank. DBS could launch native escrow/payment-protection features for renovation or partner with competitors, making it both a critical partner and a structural threat.

Emerging players

• Dash Renovation: Singapore-based renovation platform offering matching and project support services to homeowners, with overlap in the SG ID directory and homeowner lead-gen space.

Regional players

• Hoolah: Singapore-headquartered BNPL provider offering pay-in-3/installment financing. Comparable transaction-fee payment model in the SG consumer payments space, and is explicitly named by HomePay as a higher-fee benchmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/homepaysg
• Instagraminstagram.com/homepay.sg
• TikToktiktok.com/@homepay.sg

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Homepay Pte. Ltd.