Indonesian property-focused P2P lender Gradana raises pre-Series A round led by tryb

Jakarta, Indonesia. Photo: Gede Suhendra/unsplash

Indonesia-based property-focused fintech platform Gradana has raised an undisclosed amount in a pre-Series A funding round led by Singapore’s fintech-focused investment firm tryb.

The fresh capital will be used to support Gradana’s business and product expansion, the company said in a statement.

Gradana operates a peer-to-peer platform focused on mortgage down payment financing that connects developers, agents, investors and banks with borrowers.

Indonesia’s housing backlog is estimated to be around 13.5 million units, with 800,000 units added every year.

“Buying or renting a property in Indonesia generally requires a significant down payment or upfront payment that limits the ability of many borrowers to afford the units. With the support of our partners, we have developed an offering for borrowers to work with developers, agents, investors and banks to finance mortgages and rentals while managing risk for all stakeholders,” said Gradana co-founder and CEO Angela Oetama.

According to co-founder William Susilo Yunior, the new funding will help the company enhance its technology which will enable faster approvals and more advanced credit scoring capabilities.

This year, the company says it looks to serve both primary (new launches from property developers) and secondary market (secondhand unit) and will be partnering with more institutional lenders, especially offshore funds.

Tryb principal Herston Powers said Gradana has the founding team and the technology to become the region’s first digital mortgage company to provide services across the entire mortgage value chain.

“Our investment into Gradana is aligned with our thesis that strong founders with innovative business models are able to leverage technology to solve Southeast Asian problems and capture huge markets with high revenue potential,” he said.

The Gradana deal marks the second investment in Indonesia by tryb. Earlier this month, DEALSTREETASIA first reported the firm’s participation in a pre-seed round for Indonesia-based sharia P2P startup Alami. The deal made tryb the first Southeast Asia-based VC to back a sharia fintech company in the region.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.