Property Startup GORO Secures $1 Million in Pre-Seed Round led by Iterative

Iterative, an early-stage venture capital firm, led a $1 million pre-seed round for GORO, an Indonesia-based fractional property marketplace platform. Several prominent investors, including XA Network, StashAway's Angel Investing Programme, and Indonesian property veteran, Mike Broomell of Colliers Indonesia, took part in the funding round, GORO said in a statement on 9 August.

The new funds will be used to expand GORO's team and strengthen its regional user acquisition strategy, according to the statement.

"Everyone aspires to invest in property, but the obstacles of financial entry barriers and complex procedures deter many individuals," said Robert Hoving, Co-Founder and Chief Executive Officer of GORO. "GORO aims to address these challenges and enable anyone, regardless of location, to build a high-yielding property portfolio."

As previously stated, the startup is also working on launching a secondary market to increase user liquidity.

"We will eventually expand into other cities across Jakarta and Bali, as well as into other asset classes," he said.

GORO is a fractional property marketplace platform that allows individuals to buy high-yielding Indonesian properties with no minimum purchase requirements. Users can build a diverse and profitable property portfolio by taking advantage of the platform's monthly rental yield and capital appreciation upon property sale. GORO serves users from more than 20 countries and is dedicated to democratising the global property market for individuals.

Since its launch in early 2023, the startup has been growing its user base at 15 percent per week. Through GORO’s platform, users can own a portion of a property from as low as $0.7.

Users are able to benefit from attractive monthly rental yield and capital appreciation when the property is sold. Currently, GORO’s diversified portfolio is delivering an impressive 11 percent net annualized rental yield to its users.