Pinhome Reportedly Pockets Series B Funding 719 Billion Rupiah

Platform proptech Pinhome is reported to have pocketed series B funding worth $50 million or the equivalent of 719 billion Rupiah. From the data submitted to the regulator, several investors involved include Goodwater Capital, Intudo Ventures, Ribbit Capital, Eurazeo Smart City, Insignia Ventures Partners, Watiga Trust, Global Founders Capital, and a number of others.

DailySocial.id tried to get confirmation from related parties, but they were reluctant to explain further regarding this funding. According to the spokesperson pinhome represented by the Head of Marketing & PR Pinhome Dani, they have not been able to provide any comments related to funding or investors.

"Pinhome's current focus is to improve services and consumer experience when conducting property transactions and household services, so as to increase customer satisfaction newuser and monthly active users on our apps and sites."

In 2021, Pinhome got it series A pendanaan funding led by Ribbit Capital with an investment value of $25,5 million or the equivalent of 369,3 billion Rupiah. Several other investors also took part in Pinhome's funding, including Goodwater Capital, Insignia Ventures Partners, and Global Founder Capital as Rocket Internet's investment unit.

Previously, Pinhome had also carried out initial fundraising. Investors involved include Insignia Ventures and Global Founders Capital. Of the total funding that has been successfully recorded, it is estimated that Pinhome's current valuation has reached $225 million and has entered the ranks of Centaur.

Founded by CEO Dayu Dara Permata and CTO Ahmed Aljunied in 2020, Pinhome exists with the aim of facilitating property transactions to make property transactions easier, faster and more transparent with the help of technology.

In an interview, Dara explained, “Pinhome is very different, we are a platform online which facilitates interaction between property owners, buyers and agents. As a property owner, it will be very easy because in the future we will have access to hundreds of thousands of agents who are ready to help market their properties.”

Equipped with superior features

Had time to integrate with Gojek, currently Pinhome claims to be equipped with a series of advantages, one of which is a guide to buying property. Users will be guided in determining the ideal budget and property, payment options, contacting agents, making property visits, determining price estimates, mortgage guidance, starting transactions, preparing important documents, and the handover process all in one application.

According to an internal survey pinhome, KPR is still the favorite for the younger generation in buying their dream home. As many as 78% have a bank mortgage method, 12% choose the cash method (hard cash, gradual cash), and 9% use a mortgage finance. Because of the importance of the mortgage program for homeowners, Pinhome also opens up opportunities for mortgage refinancing.

Currently, Pinhome has partnered with 50 financial institutions, ranging from banks and finance that consumers can choose from.