GORO Co-Founders: Andryan Gouw (left) and Robert Hoving
Indonesia-based fractional property marketplace platform GORO has secured US$1 million in a pre-seed round led by early-stage venture capital firm Iterative.
XA Network, StashAway’s Angel Investing Program, and Indonesian property expert Mike Broomell from Colliers Indonesia also participated in the funding round.
GORO intends to allocate the new funds towards team expansion and strengthening its regional user acquisition approach.
Goro enables individuals to buy high-yielding Indonesian properties with no minimum purchase. The platform delivers monthly rental returns and capital gains, facilitating users in cultivating a lucrative property portfolio. Since its launch in early 2023, the startup claims to have been growing its user base at 15 per cent per week.
Also Read: Is co-living a good opportunity for property owners?
On GORO’s platform, users can own a share of a property starting at just US$0.7 (IDR10,000), gaining from appealing monthly rental returns and capital growth upon sale. At present, GORO’s varied portfolio offers its users an 11 per cent net annualised rental yield.
“Everyone aspires to invest in property, but the obstacles of financial entry barriers and complex procedures deter many individuals. GORO aims to address these challenges and enable anyone, regardless of their location, to build a high-yielding property portfolio,” said Robert Hoving, Co-Founder and CEO of GORO.
Hoving also revealed that the startup has plans to introduce a secondary market for enhanced user liquidity and anticipated expansion into cities beyond Jakarta and Bali, along with exploring other asset classes.
Despite macroeconomic challenges and inflation, property as an asset portfolio stands out, offering stable returns given its inherent low volatility.
GORO’s portfolio features Bali villas and Jakarta residences, serving users from more than 20 countries.
—
Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.
The post GORO raises US$1M to democratise Indonesian property investment amidst economic challenges appeared first on e27.