Indonesia-based property tech platform Jendela360 announced an undisclosed strategic investment round from an entity affiliated to local conglomerate group Sinar Mas Group.
This investment followed a US$1 million funding round led by BEENEXT that the company announced in June 2020.
Jendela360 plans to use the new funding to accelerate its business growth, extend the rental and sales operation and aim to be the number one player in the industry by continuing to expand its products and services, invest in its technology and, naturally, toward hiring. The startup also wants to scale into new markets and go deeper into existing markets.
In an email to e27, Daniel Rannu, co-founder and CEO of Jendela360, gave a further explanation about the company’s plan with the funding.
“Before the pandemic, we only focused on long-term rental. But because of the pandemic, we have to enter the shorter-term rental market and property sales market sooner than we expected. This turns out to be a blessing in disguise … as now, more than ever, people are willing to try on a digital solution to find their desired properties. We’ve experienced tremendous (four times) growth as a property tech in the past 18 months,” he wrote.
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“Since the Indonesian property market is a HUGE market. Our strategy for the next few years is to simply expand nationwide. Lucky for us, we founded Jendela360 to serve the Indonesian market where we have 270 million people living here, and there are still large parts of the pie that we can take on.”
In addition to its four-times growth, the startup also claimed to be operationally profitable.
Founded in 2017, Jendela360 aims to streamline the process of property transactions in Indonesia with its O2O approach. It offers data-driven apps powered by machine learning engines to generate leads and pair them with the right agents efficiently.
Rannu believes that the key factor to help the property industry digitalisation is by utilising the right technology, combined with the wisdom on how-to-do interaction, instead of replacing agents.
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Image Credit: Jendela360
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