Boarding House Management Startup RoomMe Receives Series A Funding from BAce Capital

The boarding house management startup officially announces an undisclosed amount of Series A funding led by BAce Capital. Two previous investors, Vertex Ventures and KK Fund participated in this round.

In an official statement, the funding will be used for technology development and expansion of up to 1000 boarding houses located in Bodetabek until 2020.

BAce Capital founded by veterans who have worked at Alibaba and Ant Financial. BAce's cross-border knowledge is expected to be a valuable insight to help RoomMe's growth and development.

"BAce has shown not only a deep understanding of the Southeast Asian market, but also in China. We were able to gain an in-depth understanding of similar business models in various regions, which will help us refine the development of RoomMe's business direction," said the CEO. RoomMe Glen Ramersan.

Di previous interview, Glen explained that costing is an initial area that the company will take seriously before entering other segments. It is possible for RoomMe to expand its services for management in apartments and expatriate residents, for example.

The potential for the boarding house business in Jabodetabek alone, he continued, is predicted to have more than 25 thousand boarding buildings that are still run conventionally.

When a boarding house cooperates with RoomMe, there is a standardized quality of service, complete information about location and availability. Everything can be accessed through other OTA applications and channels.

The boarding facilities at RoomMe have standards because they will be found in almost all existing room units, including the atmosphere of cleanliness and room security like a hotel, such as hot water, flat screen TVs, toiletries, and wifi.

In-room bathroom and pantry also provided. Prices are standard determined by RoomMe. All of these facilities are standard and will not be charged to boarding house renters, including the cost of repairing facilities and promoting them to the public.

RoomMe has four products to reach all segments of society. There are regular RoomMe, RoomMe+ for the upper middle class, RoomMe Eco for students and affordable prices, and RoomMe Syariah. The rental price starts from IDR 1 million to IDR 11 million per month.

Glen said the company has hooked up hundreds of boarding houses located in Jakarta with a total of more than 2 rooms.