Receiving Funding, Jendela360 Creates a Virtual Property Tour Feature

The startup technology property Jendela360 received funding of US$ 1 million or IDR 14.2 billion from investors led by the venture capital company Beenext. The funding will be used by Jendela360 to develop various features, one of which is a virtual property tour feature during a new normal period.

In addition to Beenext, several investors involved in the funding include Prasetia Dwidharma, Everhaus, and several investors from the property consulting room. The last funding was obtained Jendela360 in 2018 from Everhaus.

Co-founder and CEO of Jendela360 Daniel Rannu said the company wanted to make the 360-degree virtual tour feature on its platform a part of the new normal in the Indonesian property market. According to him, this is a solution that the company is trying to offer to its users.

Property seekers usually spend too much time talking with three or more different agents. In looking for a property, they are faced with a situation of scattered, incomplete information, and poor quality images.

Rannu said property seekers need better standardization of service levels and broker support. “We then introduce a 360-degree virtual tour to view properties,” Rannu said was quoted by Tech In Asia on Monday (6/22).

The company, founded in 2016, connects clients, landlords, and agents. In addition to the virtual tour feature in looking for a property, the platform is also supported by digital signature capabilities, integrated electronic payment methods, and price prediction systems that rely on artificial intelligence.

Funding will be Used to Recruit the Best Talent

Jendela360 co-founder and COO Kiki Guzali said the funding would also be used to enhance the online-to-offline (O2O) approach to its business. The company will recruit agents and develop a more comprehensive training system.

According to Kiki, this funding will be used to recruit the best talents in the property world. As well as the making of academies or training systems that can give birth to Real Estate Agents with really good standards.

Also, continued Kiki, surely this fresh fund was maximized to increase brand awareness and improve the experience of transacting property in Jendela360 with technology development.

Kiki said that so far the achievements of startups that connect Client, Landlord, and Property Agents to one technology-based platform are good enough in the online world. “But we always believe that to create a perfect user experience, property transactions will also require a good physical or offline presence,” Kiki said.

Meanwhile, Jendela360’s co-founder and CEO, Daniel Rannu added, the inclusion of new funding is proof that what Jendela360 has been doing so far has had a positive impact on the property industry in Indonesia.

Real-Estate Opportunities in Indonesia are Considered Large

Jendela360 has experienced a 30-fold growth in transaction value in the past three years. The company currently has more than 10,000 paid customers and 100,000 monthly visits on the website.

According to the company, the real estate market in Indonesia was valued at US $ 30 billion last year. This is considered as an opportunity. To gain a significant market share, Jendela360 relies on technology capabilities to support the purchase and rental of residential and commercial properties.

Covid-19 pandemic has also forced many people to turn to digital solutions such as those offered by the company. Jendela360 is not the only startup that is digitizing property space in Indonesia. Another startup, Travelio, has received its series B funding of US $ 18 million from Gobi Partners, Samsung, and Pavilion Capital Temasek at the end of last year.

There are also Mamikos and Infokost which are supported by Cocoa Ventures. In the Southeast Asian property market, there is PropertyGuru based in Singapore. They claim to have a 75% market share in Singapore. PropertyGuru also operates in Malaysia, Thailand, Indonesia, and Vietnam. Recently, the company has also expanded into home financing services.