Aditya Hadi Pratama · · 1 min readIndonesian proptech firm bags $5.5m in East Ventures-led round
Tanaku, an Indonesia-based property tech startup, has raised US$5.5 million in a pre-seed funding round led by East Ventures. The raise included equity funding and debt capital from an undisclosed international bank.
(From left) Tanaku co-founders Bhanu Prakash, Jonathan Ma, Alwin Hajaning, and Andries De Vos / Photo credit: Tanaku
Founded earlier this year, Tanaku allows Indonesians to move into their new homes by paying as low as 2% of the required down payment. Customers can then pay off the rest through monthly installments.
Currently, users can only select homes from the firm’s curated properties. However, Tanaku plans to help with payments on any home by partnering with property agents across the country.
The company wants to make owning real estate more accessible, as homeownership has declined by 2% each year since 2000 due to the large funds needed for the initial down payment.
Tanaku was established by Bhanu Prakash, Alwin Hajaning, serial entrepreneur Andries De Vos, and Jonathan Ma – former director of local conglomerate Mayapada Group.
The startup plans to use the fresh funding for product development, property acquisition, marketing, and hiring purposes.
Editing by Miguel Cordon and Jaclyn Tiu
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