Striders Corporation makes a Strategic Investment into a Prop-Tech Company in Indonesia
Striders Corporation (HQ: Tokyo, Japan, President & CEO: Ryotaro Hayakawa), which is bullish about the post-COVID growth of Indonesian real estate & prop-tech sectors, made a strategic investment into Travelio (HQ: Jakarta, Indonesia, Co-Founder & CEO: Hendry Rusli). The investment was executed via Striders Global Investment Pte. Ltd. (HQ: Singapore, Director: Nelaka Haturusinha).
This investment was introduced by Indogen Capital (Headquarters: Jakarta, Indonesia; Managing Partner: Chandra Firmanto) which is the venture capital partner of Striders Corporation in Indonesia. Indogen is a venture capital firm which invests in promising early-stage venture companies mainly in Southeast Asia.
Travelio is a residential real estate management company based in Indonesia that manages properties by building a one-stop online platform for connecting owners, tenants, and other real estate management service providers. In Indonesia, real estate investors have traditionally been willing to own assets for capital gain via resales, while in the tenants are required to pay a large advance rent. Travelio tackled this problem and fixed this mismatch by developing and delivering apps for owners and tenants respectively. In particular, Travelio offer a wide range of options, from short-term contracts within a month to long-term contracts over a year, and expanded their service menu to include provision of furnished properties to meet the needs of the tenants. It also provides owners with solutions to a variety of challenges, including maintenance-related services. As a result, due to Travelio’s 3P services (People, Process, Products), including services to facilitate property management, financing, and payment, as well as property maintenance, interior design, and arrangement of daily necessities, and Travelio could offer a wide range of rental options and flexible payment methods that has been successful in attracting millennials and Generation Z tenants.
Currently, Travelio manages more than 4,000 properties from Jakarta and other main cities which are exclusively listed in Travelio’s platform, and Travelio’s website sees over 1 million visits on monthly basis. On November 2019, Travelio successfully raised USD 18 million in its Series B financing round led by Gobi Partners (China) & Pavilion Capital (Singapore). Travelio has raised a total of USD 24 million after 5 years of operation.
Striders Corporation also owns a real estate management company, Trust Advisers Corporation, which manages more than 6,000 apartments in Tokyo. The company is now in the process of moving towards the digitization in order to boost the post-COVID growth. Commenting on the strategic investment, President Ryotaro Hayakawa said that this investment would be a major step towards the overseas expansion of real estate segment of Striders Group and considers Travelio to be a close partner for post-COVID-19 growth. He further believes that Travelio has already started to disrupt the analog-driven Indonesian real-estate sector by minimizing the gap between demand and supply with the use of technology. Well experienced and gender-balanced management team of Travelio has been the key to strength and sustainable development despite the challenges.
Nelaka Haturusinha said that the Travelio investment shows the continued commitment to support the growth oriented ventures in the emerging and frontier markets, as a part of the islands focused investment strategy of Striders Corporation. According to him, Striders Corporation hope to apply the learnings from Travelio, in driving the digitization of group’s real-estate sector.