Travelio contains about 15,000 properties specifically managed within its platform, spread into 12 cities throughout Indonesia.
Heaptalk, Jakarta — A property technology platform Travelio has secured the latest fresh injection in a Series C investment round with an undisclosed amount led by a Korean-based financial group.
Several strategic investors also involve in this funding round, spanning DAOL Ventures (formerly known as KTB), Orzon Ventures, supported by Thailand’s PTTOR and 500 Global, and Taiwan’s Appworks. The existing investors, namely Pavilion Capital, also join in this funding round. Travelio will tackle its fresh capital to release its new business vertical in the rent-to-own sector.
“We are very excited to launch this new initiative as it will solve the problem of low homeownership issue for middle-class millennials, which makes up most of our tenants. This way, we won’t be a temporary solution for them for a few years. Still, instead for their lifetime,” The Co-Founder and Chief Strategy Officer of Travelio, Christina Suriadjaja, said.
In its business operations, Travelio recognized that its business model is quite effective in providing high rental income for apartment owners who have yet to observe sufficient returns before Travelio’s service. This business model is also considered an affordable rental option for tenants for short to long-term periods.
As a property rental startup in Indonesia, Travelio allows tenants to pay monthly for annual rent. Tenants can adapt to this flexible payment scheme from the previous method, using cash to make a 20% down payment and paying a follow-on security deposit for more than one year’s lease.
Currently, Travelio contains about 15,000 properties specifically managed within its platform. The managed properties of this prop-tech platform spread into 12 cities throughout Indonesia, covering Jakarta, Tangerang, Bekasi, Bogor, Depok, Bandung, Surabaya, Semarang, Karawang, Makassar, Yogyakarta, and Medan.
Despite proffering fully furnished apartments, Travelio has broadened its product into unfurnished flats and houses. The company’s property management arm that operates fully-furnished apartments has accomplished an adjusted EBITDA positive since last year.
“Travelio as a group is expected to achieve positively adjusted EBITDA by the end of the year. The company now has more than 600 staff and has not performed layoff policy since the Covid-19,” added Christina.
Prior to the latest Series C funding round, Travelio also seized its Series B investment round worth US$18 million in 2019, led by Pavilion Capital and Gobi Partners. Multiple investors join this funding round, including Cynn Capital, Insignia Ventures Partners, IndoGen Capital, and PT Surya Semesta Internusa Tbk.
