Your dream home's waiting! Say hey to Ringkas. This Indonesia-based proptech startup just raised a $2.3M pre-seed.

• To do what? To let anyone be able to own their dream homes and build the path to 100M new homeowners in SEA.

Who cashed in? 500 Global, Iterative Capital, Creative Gorilla Capital, Teja Ventures, Bukalapak co-founders' Init-6 and several angels.

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😉 Renovating and modeling the industry

The housing and mortgage finance industry's broken. For one, it's traditional and fragmented with many stakeholders. Two, it favors fixed-income earners.

• 55% of the country's workforce (that's around 70M people!) are SME owners, freelancers and other non-fixed income earners— and they have a tough time proving they can afford a mortgage.

Tons of opportunities (and homeowners) to come. Mortgage penetration in Indonesia is one of the lowest in the world, with total mortgage lending from banks only 3.25% of the GDP.

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🏠 How it works

Ringkas is here to help make homeownership (and the mortgage process) simple, fast, transparent and low-cost for anyone.

• Indonesia has millions of home seekers, 12,000 developers and over 1,200 banks and financial institutions.

For you and I. Apply for a home budget in minutes and get pre-qualified, work with a trusted mortgage advisor and find the best rates based on your profile.

Developers. Track your pipeline of prospective customers, access Ringkas' pool of lenders and offer your customer the best-fitting mortgage, fast.

Banks and financial institutions. Offer your mortgages easily and quickly to more customers by bringing the whole process online and accessing Ringkas' customers.

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😎 What's next?

They're launching their platform across Greater Jakarta in the next six to twelve months. The plan? Bring 10,000 home seekers on board and work with Indonesia's largest property developer, Ciputra Group.

• They're focused on launching across Indonesia before considering SEA expansion.