Mortgage fintech has taken off in Indonesia. Will it fly?

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Hello there,

Moving between four houses in 10 years doesn’t seem so bad, but back in the early 2010s, house hunting in Delhi – where I started my career – was a horror for me every time I had to do it.

There were no proptech startups in sight at the time, so I used to scroll for hours on Facebook groups searching for decent flats that would fit my budget.

Now, life as a house hunter is much easier. Proptech startups can help you – from searching for a house all the way to filling up paperwork. But in Indonesia, a new trend seems to be emerging: Several startups are focusing specifically on mortgages.

These firms demystify the tedious mortgage process via digital solutions, and VCs have taken notice. But for now, these companies still have to prove that they can be profitable, sustainable businesses in the long term.

My colleague Melissa analyzes the opportunities and challenges of these rising mortgage fintech players in this week’s Big Story.

Meanwhile, in the Hot Take, I look at the factors that led to Singapore-based fintech startup JiPay’s shutdown. Read on to know more.

– Samreen

THE BIG STORY

Mortgage fintech: Indonesia’s next big consumer lending space

Image credit: Timmy Loen

The sector has drawn various players – from full-stack property platforms, specialist mortgage solutions, to pre-mortgage solutions.

THE HOT TAKE

What went wrong at JiPay?

NEWS YOU SHOULD KNOW

FYI