Indonesian company, Gradana, offering a platform to help with real estate financing, has raised Pre-Series A funding lead by VC tryb Group
The company said that it will use the funding to support its product expansion plan and its vision to make property more affordable and investable to the Indonesian mass market. To do so, Gradana said that it brings together an ecosystem of developers, agents, investors, and banks to solve Indonesian challenges for borrowers.
Through Gradana, users are allowed to invest by becoming lenders or to obtain financing by becoming borrowers on their peer-to-peer (P2P) platform.
“Gradana has the opportunity to become the region’s first digital mortgage company by providing services across the entire mortgage value chain,” said Herston Powers, Principal at tryb.
Gradana’s solution approach aimed to tackle the low penetration issue against the high housing demand, all despite the 20 per cent growing rate of Indonesian mortgage market. The unmet demand, according to the data provided by tryb’s official statement, has been quantified as a 13.5 million housing backlog with 800,000 added every year.
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