Indonesian property developer Sinar Mas Land has teamed up with East Ventures, Redbadge Pacific and Prasetia Dwidharma to set up a fund that will invest in startups developing smart city solutions, according to a press release.
The fresh funding will be funnelled to the plan of 99.co to build and extend its reach in Singapore and Indonesia,and launch new financial products.
Indonesia’s Property Technology (Proptech) Startup Scene: What You Need to Know 30 July 2019 Property is the largest asset class in the world—it's worth more than all stocks and bonds combined. In large markets like the United States, the property industry contributes US$3.5 trillion to the GDP, of which $836 [...]
UrbanIndo’s database of 1.2 million active property listings will join 99.co’s 150,000 property listings in Singapore after this acquisition.
Since its last funding in 2015, 99.co has remained the fastest growing real estate technology company in Southeast Asia region.