Ringkas raised $5.1 M to promote AI-powered mortgage solutions throughout Southeast Asia
Ringkas, a mortgage financing platform based in Indonesia, has revealed that a $5.1 million Pre-Series A round has closed.
The money was raised from participating investors, including Flourish Ventures, Kadan Capital, and a number of strategic and current investors, the company said in a statement on Wednesday.
In its mission to provide smarter, faster, and more accessible financing options to help millions of people in Southeast Asia become homeowners, it stated that the funding represents a significant milestone.
It further stated that the new investment will help the company develop its future artificial intelligence (AI) capabilities and broaden its regional reach, thereby solidifying its position as a major player in financial infrastructure.
The business is also stepping up its efforts to hire talent, especially in the field of generative AI, and is looking for talent from all over Southeast Asia and Vietnam to help shape the future of embedded financial services.
With 700 branches across 47 cities, partnerships with 29 banks, and 150 real estate projects under its belt, Ringkas says it has quickly expanded its business.
It was emphasized that these accomplishments offer a solid basis for the upcoming stage of expansion and creativity.
“Our mission is to build a seamless, AI-driven financial infrastructure platform that integrates into the everyday digital lives of Southeast Asians,
“This investment helps us move faster in making mortgage finance more accessible, while beginning to lay the groundwork for future AI capabilities and broader financial inclusion,” said Ilya Kravtsov, Co-founder of Ringkas.
In Southeast Asia, which includes Indonesia, Vietnam, the Philippines, and Malaysia, millions of families continue to face obstacles to obtaining accessible and reasonably priced mortgage financing.
By creating a regionally flexible financial infrastructure platform that is suited to the particular financing requirements and regulatory environment of each market, Ringkas stated that the company is dedicated to tackling these issues.
It claimed to have strong relationships with top banks, real estate companies, and online platforms, enabling the company to provide customers with personalized recommendations and real-time financial advice for pre-approved mortgages, home equity loans, or refinances—all of which are provided directly within the partner ecosystem.
“Ringkas has emerged as the leading platform making homeownership in Indonesia more accessible and seamless,
“The founding team and their powerful network of partners have reinforced our belief in the company,” said Rei Murakami Frenzel, founding partner at Kadan Capital.
By using technology to make mortgage financing more accessible, Flourish Ventures is tackling one of the most important issues facing the area, according to executive director Ravi Kaushik.
“The fact that they have top property developers and leading banks on their platform is a testament to their strong execution in Indonesia,
“Combined with a thoughtful approach to regional expansion and future AI integration, they are well positioned to build a meaningful and scalable financial solution for Southeast Asia,” he added.
In order to make Southeast Asia not just a market but also a center for AI talent and innovation, Ringkas is doubling down on developing AI infrastructure as it grows, the statement claims.
With its robust tech talent pool and rapidly expanding digital economy, Vietnam will be a crucial hub for Ringkas’ R&D and AI development.
According to the statement, Ringkas’ dedication to revolutionizing financial access is further strengthened by this strategic milestone, which also fortifies its international alliances with leading international banks and investors looking for robust returns in emerging markets.
