MilikiRumah eyes US$50 million fund to expand rent-to-own Indon programme
The proptech startup aims to bridge the financing gap for consumers often excluded from traditional mortgage systems
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[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.
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