Openspace is proud to announce our participation in Rukita’s latest successful funding round, raising an impressive US$15 million amidst the current funding drought in the region.
Rukita has secured this significant investment in its mission to continue providing hassle-free, affordable, and long-term rental housing solutions in Indonesia. Openspace, alongside new investors MPower Partners, BNI Ventures, and other Rukita’s existing investors joined this round as a demonstration of confidence in the company’s vision and potential.
Addressing Housing Challenges Faced by Indonesian Millenials
Indonesia’s burgeoning middle-class millennials face significant challenges in accessing affordable housing options, especially in urban centers like Jakarta and its bordering cities. Many young Indonesians, including university students and young professionals move from their hometowns to bigger cities in pursuit of education and employment opportunities. However, the soaring costs of renting apartments or owning houses in these urban areas often exceed their purchasing power.
As a result, many millennials opt for more affordable accommodation options such as boarding house or coliving spaces (known as kos-kosan in Indonesia). This trend reflects the growing housing crisis and socio-economic challenges faced by many younger generations.
Founded in 2019 by Sabrina and Sarah Soewatdy, Rukita addresses these challenges by providing affordable, quality living spaces tailored to the needs of Indonesian millennials. The company leverages under-utilized properties to create optimal results for property owners while ensuring convenience, comfort, and security for tenants (that often aren’t available in traditional boarding houses, further enhancing the overall living experience for its tenants).
Rukita started with end-to-end property management services through its flagship brand, Rukita, bringing together property, landlords, and marketplaces. A few other services are being added into its comprehensive ecosystem now including RuOption, a property marketing service, and RuFinance, a financing solution providing financing assistance for business expansion. With 1.4 million rooms under its ecosystem and over 3 million monthly users, Rukita continues to expand its supply growth in its fourth year of operation.
Despite the challenges inherent in the property sector, Openspace remains committed to empowering companies like Rukita to drive meaningful change and growth in Indonesia’s housing market and community.
#activeintelligence
Openspace is proud to announce our participation in Rukita’s latest successful funding round, raising an impressive US$15 million amidst the current funding drought in the region.
Rukita has secured this significant investment in its mission to continue providing hassle-free, affordable, and long-term rental housing solutions in Indonesia. Openspace, alongside new investors MPower Partners, BNI Ventures, and other Rukita’s existing investors joined this round as a demonstration of confidence in the company’s vision and potential.
Addressing Housing Challenges Faced by Indonesian Millenials
Indonesia’s burgeoning middle-class millennials face significant challenges in accessing affordable housing options, especially in urban centers like Jakarta and its bordering cities. Many young Indonesians, including university students and young professionals move from their hometowns to bigger cities in pursuit of education and employment opportunities. However, the soaring costs of renting apartments or owning houses in these urban areas often exceed their purchasing power.
As a result, many millennials opt for more affordable accommodation options such as boarding house or coliving spaces (known as kos-kosan in Indonesia). This trend reflects the growing housing crisis and socio-economic challenges faced by many younger generations.
Founded in 2019 by Sabrina and Sarah Soewatdy, Rukita addresses these challenges by providing affordable, quality living spaces tailored to the needs of Indonesian millennials. The company leverages under-utilized properties to create optimal results for property owners while ensuring convenience, comfort, and security for tenants (that often aren’t available in traditional boarding houses, further enhancing the overall living experience for its tenants).
Rukita started with end-to-end property management services through its flagship brand, Rukita, bringing together property, landlords, and marketplaces. A few other services are being added into its comprehensive ecosystem now including RuOption, a property marketing service, and RuFinance, a financing solution providing financing assistance for business expansion. With 1.4 million rooms under its ecosystem and over 3 million monthly users, Rukita continues to expand its supply growth in its fourth year of operation.
Despite the challenges inherent in the property sector, Openspace remains committed to empowering companies like Rukita to drive meaningful change and growth in Indonesia’s housing market and community.
#activeintelligence
