Lamudi Targets The Mortgage Market With The Acquisition Of A Fintech Platform

Dok/Lamudi

Lamudi Targets The Mortgage Market With The Acquisition Of A Fintech Platform

Saturday, 07 Dec 2024

The technology property company Lamudi has acquired the fintech mortgage platform Ideal in Indonesia. This strategic move enables Lamudi.co.id to further simplify and digitize the mortgage application process for millions of property seekers.

Currently, over 500 property developers and 30,000 real estate agents are connected through Lamudi. The addition of Ideal enhances its network with 28 banks and financial institutions, creating broader collaboration opportunities and stronger synergies across the property ecosystem.

Albert Surjaudaja, co-founder and CEO of Ideal, expressed his enthusiasm about joining Lamudi. He established Ideal in 2021 to revolutionize the mortgage application process in Indonesia, making it more practical, accessible, and transparent. "By becoming part of Lamudi, we can extend our reach to millions of consumers and other markets under Lamudi's parent company, DCG. This partnership allows us to grow more rapidly and have a greater impact," Albert stated in a written statement on Friday, December 6, 2024.

Mark Nosworthy, CEO of Digital Classifieds Group (DCG), noted that home financing poses a significant challenge in all markets. Through this collaboration, they aim not only to enhance mortgage services in Indonesia but also to prepare for the expansion of this platform to other countries.

"We plan to develop Ideal in the Philippines in January 2025 and continue integrating its technology into our portfolio across Southeast Asia," Mark revealed.

Mart Polman, CEO of Lamudi, views this acquisition as a crucial step in addressing the challenges of the mortgage market, considering that 80 percent of residential property purchases in Indonesia are financed through mortgages.

"Through this collaboration, we can offer more flexible financing solutions tailored to the diverse needs of property buyers in Indonesia. Services such as mortgage calculators and credit scoring will make financing options clearer and more accessible to all," he explained.