Travelio Announces Series B Funding Worth 253,8 Billion Rupiah

Startups in the property rental sector (proptech)Travelio today (14/11) announced the acquisition of series B funding of $18 million or equivalent to 253,8 billion Rupiah. This investment round was led by Pavilion Capital and Gobi Partners. Investors were previously said to be involved, including Vynn Capital, Insignia Ventures Partners, IndoGen Capital, and PT Surya Semesta Internusa Tbk.

Travelio was founded by Hendry Rusli, Christina Suriadjaja, and Christie Tjong, whose services for renting houses and apartments that are carried have reached various cities in Indonesia. Tenants can choose daily, monthly or yearly stay options.

Previously the company also booked series A pendanaan funding in mid-2018 with a value of 56 billion Rupiah. This year they are also a part Gojek Xcelerate, a business accelerator program hosted by Gojek.

The freshly raised funds will be focused on accelerating business growth, with the ambition of becoming the market leader for the platform real estate market online in Indonesia. This is realized by increasing marketing activities, recruiting team members, to developing new vertical products to serve tenants and property owners.

Currently, new products that are in the process of being developed include an interior design platform, meeting the daily needs of residents, payment financing, and logistics services. Travelio's innovative steps are indeed needed in the midst of intense competition in the related landscape.

Business dynamics property rental in Indonesia continues to stretch along with the increasing need of urban communities for temporary housing. Some time ago, 99.co decided to form j together with REA Group, agreed on a synergy with the Rumah123 platform in Indonesia. Previously, 99.co also acquired UrbanIndo and has united listing property to the service.