Travelio raises $18M to aid in the renting of apartments in Indonesia

Travelio raises $18 million in a Series B financing round led by Pavilion Capital and Gobi Partners, with participation from existing investoris.

More than 50% of residential apartments and other real estate properties in Jakarta are currently vacant, according to official estimates. Travelio is attempting to make it easier for tenants to rent these properties in Jakarta and other places in Indonesia said that it has closed a new financing round.

The startup works with individual apartment owners and property dealers to allow tenants to find and rent apartments. People can book an apartment for a day to months, Christina Suriadjaja, Co-Founder and Chief Strategy Officer of Travelio, told TechCrunch in an interview.

Travelio has over 4,000 properties exclusively signed up with the platform, she said. The startup takes between 20% to 35% of the revenue cut from its property owner partners, she explained.

Typically, it would cost a little more than $350 for someone to rent an apartment for a month from Travelio. In Indonesia, currently those looking for an apartment from property dealers and individual owners have to make a down payment of 20% and pay an advanced security deposit for more than a year. Through its pricing structure, Travelio is attempting to address this issue as well.

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