Get your own home with Ringkas! This Indonesian startup helps make homeownership more accessible by making it easy to submit mortgage applications through their KPR platform. And they just raised a $3.5M seed!

• Launched in early 2022, Ringkas wants to help 100 million Indonesians buy homes through mortgages. 

Investor check. The round was co-led by East Ventures and Crestone Venture Capital. 500 Global, Teja Ventures, Orvel Ventures, Hustle Fund, and other investors also joined in.

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🏘️ No place like home? 

Indonesia’s mortgage penetration rate is one of the lowest at SEA. It only contributes around 3% of the local GDP. And although the country has pushed initiatives to provide affordable housing, they’re still a serious housing backlog.

• That means there are still millions of Indonesian households waiting for a home. 

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🔤 The ABCs of Ringkas

Applying for a mortgage can be costly and time-consuming. Ringkas’ KPR platform makes this whole process simple, fast, and more transparent. 

• It’s digital. Get your pre-qualifications–data verification and credit simulation–done all in one place. They’re also partnered with leading local banks for faster approvals. 
• Do more. Fill out an application once, submit to different banks!
• You’re secure. Ringkas is a regulated digital financial innovation platform by OJK. They’re also ISO-certified.

Get into proptech. They also help real estate companies set up digital infrastructures to better connect with financial institutions and home buyers.  

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💸 What’s with the $$$?

They’re aiming to get $200M worth of mortgage transactions within the next 6 to 12 months, and are set to launch over 100 projects in 34 cities.