Property technology startup Reelist8 is using artificial intelligence (AI) to automate parts of the foreclosure auction process as it prepares to offer more than P500 million worth of properties on Nov. 26.
The auction, organized with partner banks including Maybank Philippines, will feature vacant foreclosed properties across Metro Manila and the Greater Manila Area, with discounts of up to 30%, the company said.
Reelist8 said its platform combines AI agents, electronic know-your-customer (eKYC) verification, and auditing tools to handle processes traditionally requiring manual documentation, compliance checks, and coordination between buyers and financial institutions.
The startup describes its auction technology as patent-pending. It also uses a hybrid auction model intended to make property valuations and bidding more transparent.
The platform, showcased during Philippine Startup Week, provides access to property listings and allows investors to participate in auctions remotely. Reelist8 is seeking to expand its services into other Asean markets.
“Investing in real estate can open many doors for Filipinos, and with our new technology stack, more people can diversify their property portfolio throughout the Asia Pacific region from wherever they are,” said Reelist8 CEO Marianne Dela Cruz.
The startup has received funding through the Department of Science and Technology’s (DOST) Startup Grant Fund and the Technology Application and Promotion Institute’s TECHNiCOM program. It also received the Presidential Filipinnovation Award from the Department of Economy, Planning, and Development.
Reelist8 said it has secured more than $285,000 in equity-free funding and is incubated by the Asian Institute of Management-Dado Banatao Incubator.
The company said its platform holds more than $10 million in exclusive property inventory from major corporations under selling agreements. It is launching a regional seed funding round to support its expansion.
Registration for the Nov. 26 auction is available at maybank.propertyauctions.ph.
