Seoul Fintech Lab, a fintech specialized startup support organization established by the Seoul Metropolitan Government, announced that it has selected proptech startup Indeed Lab as a new resident company in the first half of 2025.
Seoul Fintech Lab is an organization established to support the growth and global expansion of promising fintech startups. Through this move, Indeed Lab plans to fully advance its technology and expand its business areas based on Seoul Fintech Lab’s incubation program, investor and financial institution network, etc.
Indeed Lab is a proptech company that has developed technology to quantitatively analyze the value of residential units based on household environmental data from apartments nationwide. The data it has built includes various environmental performance factors such as sunlight, views, heating and cooling energy, air quality, and noise, and the household value analysis based on this is evaluated to have increased precision and objectivity compared to the existing simple area or floor-based evaluation method.
This technology can be used in various fields such as the estimation of housing collateral value by financial institutions, the review of design plans by construction companies and maintenance associations, and the analysis work of real estate appraisers and certified real estate agents. It is expected to contribute to resolving information asymmetry in the real estate market by providing criteria for property judgment to general consumers as well.
Indeed Lab's core service, 'The Stack', is a platform that provides housing value analysis information based on generational environmental performance data. Basic analysis information for general consumers is provided free of charge, and more precise reports are provided for a fee. It also provides a SaaS-type interface for certified real estate agents, and is introducing a certified partner system to provide data-based consulting services for each complex.
Data provision for corporate clients is also expanding. Indeed Lab is generating revenue from various projects through collaboration with banks, construction companies, public institutions, etc. In particular, it was selected for KB Financial Group's startup incubation program 'KB Starters' and is also in the process of collaborating with the KB Real Estate Platform.
The self-developed environmental analysis engine is being used in redevelopment projects in Seoul and Busan, as well as in the Korea Real Estate Board's market price improvement project, and is contributing to increasing the accuracy of market price calculations by providing quantitative data at the household level. Based on this, we are also planning to expand our professional services to real estate appraisers, financial institutions, etc. in the future.
An official from Seoul Fintech Lab said, “Indeed Lab is a promising proptech company with quantitative analysis technology, and is a competitive company in the financial and public sectors where demand for real estate data-based services is high.” He added, “We expect that support from Seoul Fintech Lab will provide substantial help in technological advancement and market expansion.”
Jeong Yo-han, CEO of Indeed Lab, said, “With our move into Seoul Fintech Lab, we will focus on connecting quantitative data-based real estate valuation technology with more financial and public institutions and presenting real estate information standards that anyone can trust.”
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