MilikiRumah eyes US$50 million fund to expand rent-to-own Indon programme

[JAKARTA] Proptech startup MilikiRumah is aiming to raise a US$50 million private equity fund to scale its rent-to-own housing programme in the country, targeting segments of the population typically excluded from conventional mortgage financing.

With early backing from regulated asset managers – including Ruifeng Wealth Management, Tembusu Partners and Trigger Asset Management – the company kicked off its fundraising efforts with a planned first close of US$10 million in the third quarter of this year.

MilikiRumah aims to raise the remaining capital in successive US$10 million tranches over the next two years, enabling it to gradually scale housing development under its rent-to-own model.