Ringkas

Ringkas is an Indonesian financial infrastructure platform focused on digitizing and simplifying the mortgage process. Founded in 2021 by Ilya Kravtsov, Leroy Pinto, Puguh Widyoko, and Yoko Simon, the company was established to address Indonesia's significantly low mortgage penetration rate and a substantial housing backlog. The founders brought together diverse experiences to tackle this challenge: Kravtsov's background is in building tech startups across Southeast Asia, Pinto previously worked at Google and Amazon, Simon held senior engineering roles at Dell, and Widyoko has leadership experience in large financial institutions.

The company operates a digital platform that connects homebuyers with banks and property developers, streamlining what is traditionally a fragmented and paper-based process. For consumers, the service offers real-time pre-qualification and a single digital application that can be submitted to multiple banks simultaneously, providing transparency and a range of options. This addresses a major market inefficiency where high rejection rates, sometimes up to 40%, are common. For property developers and agents, the platform allows them to focus on sales rather than extensive paperwork. Ringkas generates revenue by charging a commission to banks for its loan origination services and to property developers for services rendered.

Since its inception, Ringkas has expanded its operations significantly. By May 2025, the company reported a presence in 47 cities, with partnerships spanning 150 property projects and 29 banks across 700 branches. The firm has secured substantial funding to fuel its growth, including a US$3.5 million seed round in May 2023 and a US$5.1 million pre-series A round in May 2025. These funds are earmarked for enhancing the platform's AI capabilities, expanding its regional presence, and acquiring talent, particularly in the field of generative AI. The company operates as a regulated digital financial innovation operator by Indonesia's Financial Services Authority (OJK) and holds an ISO 27001 certification for data security.

Keywords: mortgage technology, proptech, financial infrastructure, home loans, digital mortgage, Indonesian market, real estate finance, fintech, property financing, loan origination, homeownership, financial services, embedded finance, Southeast Asia property, AI in finance, bank partnerships, property developer solutions, mortgage accessibility, real estate technology, digital lending