Indonesia-based real estate marketplace Lamudi, a subsidiary of Australia’s Digital Classifieds Group, announced the acquisition of Ideal, a Fintech aggregator specializing in mortgage products in Indonesia.
This strategic move aims to integrate mortgage facilitation into Lamudi’s platform, offering a more comprehensive solution for property buyers and investors, according to the announcement.
Founded in 2013, Lamudi operates as an online property marketplace connecting buyers, sellers, and renters across various emerging markets.
The platform supports residential and commercial real estate transactions, leveraging digital technology to streamline the property search and acquisition process.
Ideal, operating under PT Hidup Ideal Sejahtera, provides a range of mortgage-related services, including financing simulations, access to tailored mortgage products, and streamlined applications for primary and secondary homes, as well as refinancing options.
By integrating Ideal’s fintech capabilities, Lamudi intends to offer users a seamless end-to-end experience that combines property listings with accessible financing solutions.
The acquisition was completed through a debt-to-equity conversion, resulting in Lamudi Holding Limited, based in the Dubai International Financial Centre (DIFC) in the UAE, becoming the majority shareholder of Ideal.
Following the announcement, a 14-day objection period was granted to creditors, ensuring compliance with regulatory requirements.
Lamudi’s expansion into fintech aligns with its goal to enhance user experience by providing integrated proptech and fintech services on a single platform.
This consolidation is expected to attract more property buyers and investors by simplifying the mortgage process and making financing more accessible directly through Lamudi’s website.
As Lamudi continues to grow its presence in emerging markets, the acquisition of Ideal underscores its commitment to offering comprehensive real estate solutions.
The integration of mortgage services is anticipated to drive increased user engagement and strengthen Lamudi’s position as a leading online property marketplace in the region.