MilikiRumah Launches USD 50 Million Private Equity Fund to Expand Rent-to-Own Housing for Indonesia’s Underbanked
L-R (Lau Xin Yuan, Marine Novita and Winston Lee, co-founders, MilikiRumah)
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MilikiRumah, an Indonesia-based social inclusion PropTech company, has launched fundraising for its USD 50 million MilikiRumah Indonesia Rent-to-Own Offtake Fund 1, aimed at expanding homeownership access for underbanked Indonesians.
The private equity fund will focus on a rent-to-own model designed to help non-fixed income earners transition toward mortgage eligibility. The mandate of the fund is to deliver financial returns alongside measurable social impact.
According to Indonesia’s Central Statistics Agency (Badan Pusat Statistik), the country recorded a 9.9 million housing backlog in 2023. Approximately 60 per cent of Indonesia’s workforce—around 86 million people—work in the informal sector and often face challenges meeting conventional bank lending requirements. At the same time, the growth of Buy Now, Pay Later adoption, estimated at 15 million users, has raised concerns over rising non-performing loan risks among consumers.
MilikiRumah’s proprietary rent-to-own programme is structured to support underbanked individuals who may not meet traditional credit assessments but demonstrate repayment capacity. The company operates in Indonesia under PT Miliki Rumah Indonesia, a subsidiary of Singapore-registered Rightkey Capital Pte Ltd.
The fundraise comes amid broader capital market caution globally. MilikiRumah said it has engaged venture capital firms, sovereign wealth funds and institutional investors across Southeast Asia and beyond as it seeks partners aligned with financial inclusion and homeownership expansion.
Indonesia’s government has set a target of building, upgrading and delivering three million homes under the administration of President Prabowo Subianto. The Ministry of Housing aims to support 350,000 families this year through the Housing Financing Liquidity Facility programme. Despite these initiatives, access to mortgage financing remains limited for many informal sector workers.
MilikiRumah was founded by former executives of PropertyGuru Group:
Winston Lee, Co-Founder and Chief Executive Officer, previously Regional Head of New Projects and Director of Special Projects at PropertyGuru Group.
Marine Novita, Co-Founder and President Director, formerly Country Head of Rumah.com.
Lau Xin Yuan, Co-Founder and Finance Director, who oversees finance and investor relations.
The company has raised SGD 2.6 million in seed funding to date, which has been deployed toward developing its technology platform to support underbanked consumers in qualifying for homeownership.
MilikiRumah stated that proceeds from the new fund will be used to scale its rent-to-own programme across Indonesia, working with developers and financial institutions to facilitate pathways to mortgage approval. Discover more: https://www.milikirumah.com/en
MilikiRumah, an Indonesia-based social inclusion PropTech company, has launched fundraising for its USD 50 million MilikiRumah Indonesia Rent-to-Own Offtake Fund 1, aimed at expanding homeownership access for underbanked Indonesians.
The private equity fund will focus on a rent-to-own model designed to help non-fixed income earners transition toward mortgage eligibility. The mandate of the fund is to deliver financial returns alongside measurable social impact.
According to Indonesia’s Central Statistics Agency (Badan Pusat Statistik), the country recorded a 9.9 million housing backlog in 2023. Approximately 60 per cent of Indonesia’s workforce—around 86 million people—work in the informal sector and often face challenges meeting conventional bank lending requirements. At the same time, the growth of Buy Now, Pay Later adoption, estimated at 15 million users, has raised concerns over rising non-performing loan risks among consumers.
