Ringkas has closed a US$5.1 million Pre-Series A funding round, led by Flourish Ventures and Kadan Capital, to expand its AI-driven mortgage infrastructure across Southeast Asia. The startup is focused on simplifying and scaling access to home financing in emerging markets, with Indonesia as its first major focus.
The new funding round, which also saw participation from strategic and existing investors, marks a significant step in Ringkas’ mission to improve financial inclusion through smarter, more accessible digital mortgage services. The company plans to use the capital to scale its AI capabilities, attract top tech talent across the region, and expand its footprint into additional Southeast Asian markets.
Expanding reach through partnerships and AI innovation
Ringkas has rapidly grown its presence, now operating in 47 cities, partnering with 150 property projects and integrating with 29 banks via 700 branches. These partnerships allow Ringkas to offer embedded financial services directly within its partner ecosystem, enabling consumers to access real-time financial advice, pre-approved mortgages, refinancing options, and home equity loans.
“Our mission is to build a seamless, AI-driven financial infrastructure platform that embeds into the everyday digital lives of Southeast Asians,” said Ilya Kravtsov, Co-founder of Ringkas. “This investment helps us move faster in making mortgage finance more accessible while beginning to lay the groundwork for future AI capabilities and broader financial inclusion.”
The funding will help Ringkas invest in advanced generative AI tools to enhance user experience and provide hyper-personalised financing recommendations. The company is actively hiring AI talent from across Southeast Asia, particularly Vietnam, where it aims to set up a key centre for research and development.
Addressing a critical regional need
Mortgage accessibility remains a challenge across the region, with families in Indonesia, Vietnam, the Philippines, and Malaysia often facing significant barriers to financing their homes. Ringkas aims to fill this gap by building infrastructure that adapts to each country’s financial regulations and market needs.
“Ringkas is addressing one of the region’s most pressing challenges by making mortgage financing more accessible through technology,” said Ravi Kaushik, Executive Director at Flourish Ventures. “The fact that they have top property developers and leading banks on their platform is a testament to their strong execution in Indonesia. Combined with a thoughtful approach to regional expansion and future AI integration, they are well positioned to build a meaningful and scalable financial solution for Southeast Asia.”
Rei Murakami Frenzel, Founding Partner at Kadan Capital, added, “Ringkas has emerged as the leading platform making homeownership in Indonesia more accessible and seamless. The visionary founding team and their powerful network of partners have reinforced our belief in the company.”
Southeast Asia as a centre for AI and fintech innovation
With Vietnam’s strong base of tech talent and fast-growing digital economy, Ringkas is setting up its AI infrastructure in the country as part of its broader regional growth. The move aligns with the company’s vision to make Southeast Asia not only a key market for its services but also a hub for future-facing AI development.
This milestone further strengthens Ringkas’ partnerships with global banks and investors who are looking to generate returns in fast-growing, underserved markets. By aligning cutting-edge technology with real-world financial challenges, Ringkas is positioned to transform how homeownership is achieved across the region.
