- Rukita, an Indonesian proptech firm, secures $15 million in Series B1 funding.
- The company, which offers affordable rental options, has achieved EBITDA positivity.
- Rukita aims to expand its services and technology with the new investment.
Indonesian proptech firm Rukita has secured US$15 million in a series B1 funding round, cementing its position as a leading player in the country’s burgeoning rental market.
The company, which offers affordable rental options tailored to Indonesia’s growing middle class and millennial population, has achieved EBITDA positivity after four years of operation.
Expanding market reach
Rukita currently manages over 1.4 million rooms and attracts more than 3 million unique users a month to its platform.
The fresh capital injection, led by new investors MPower Partners, BNI Ventures, and Openspace Ventures, will be used to develop Rukita’s technology further, expand its services, and attract top talent, among other initiatives.
Industry-recognized acquisition
In March 2022, Rukita acquired room rental marketplace Infokost, previously owned by GDP Ventures, the investment arm of Indonesian conglomerate Djarum Group.
The acquisition has further strengthened Rukita’s market position and reach. The company’s success has also been recognized by its inclusion in the second cohort of Surge, Sequoia Capital’s accelerator program.
Indonesia’s proptech ecosystem is witnessing significant growth and investment, with Rukita at the forefront of this trend.
In December 2023, Bank BTN and Mandiri Capital Indonesia (MCI) launched the BTN Fund, which is poised to invest in a wide range of property-related technologies, including proptech, mortgage tech, and construction tech.
While the market continues to evolve, Rukita is well-positioned to capitalize on the increasing demand for innovative and affordable rental solutions in Indonesia.
To read the original article in its entirety: https://www.techinasia.com/rukita-scores-15m-to-shake-up-housing
