REAL Messenger Holdings Limited, a real estate-related social platform, is going public less than a year after launch via a reverse merger with Singapore-based special purpose acquisition company (SPAC) Nova Vision Acquisition Corp. with a potential pre-money enterprise value of about $150 million.

As part of the transaction Nova Vision, which currently holds approximately $19 million of cash in trust, is seeking to secure cash proceeds of up to $20 million from a private investment in public equity (PIPE). The deal is expected to close in the third quarter.

Costa Nova, CA-based REAL occupies a hybrid space whereby the app acts as a social media platform, messenger app and real estate listing portal. The startup is positioned on the principle of making the real estate experience “fun and joyful”; more connected, a bigger sense of social community, and with a strong focus on AI and data.

It has garnered more than 350,000 downloads in 35 countries since an initial $12 million investment by Swedish real estate broker Frederik Eklund and fellow co-founder Thomas Ma.

“The real estate industry has had a real thirst for a global social network for years … and REAL Messenger, powered by AI, is quickly leading the way. By going public we can run even faster and enter even more markets. This is the future of real estate, and I’m proud to be the co-founder of the company,” said Eklund.

Once the merger is complete, Eric Wong, CEO of Nova Vision, will be a member of the combined company’s board of directors.