Mobilkamu, Indonesian online automotive dealer platform, has secured an undisclosed amount in a Series A round led by East Ventures and Genesia Ventures. Also participating in this round is Denali Mitra.
The startup plans to use the fresh funding to achieve its goal of becoming the top-of-mind new car buying platform in Indonesia by expanding its reach and to further develop its products and technologies.
The previous round of seed funding was raised in November 2017.
Founded in 2015 by Wilton Halim, Kalen Iselt, and Caue Motta, the co-founders aims to solve an existing problem in Indonesia’s new car industry. Mobilkamu introduces a seamless experience of purchasing a new car by removing unnecessary end consumer interacting with too many parties, with the promise of offering “the fairest price in the market.” This new way of buying cars also provides an alternative to consumers where in the past the only option for customers to buy a new car is to go directly from dealer to dealer to find the best deal.
Mobilkamu claims to sell 150 cars every month and it has established partnerships with over 80 car dealers and several financial partners including Bussan Auto Finance, BCA Finance, Mega Auto Finance, Mandiri Tunas Finance, and Bank Jasa Jakarta.