– The Indonesian online car
sales service site, BeliMobilGue.co.id, raised funding of US$10 million led by Frontier Car Group as the holding company, with participation from new investors, including PT Toyota Tunas Indonesia.
With that funds, the car seller will expand its business to Indonesia’ main cities, launch new businesses, increase sales and marketing, said Founder and CEO BeliMobilGue.co.id Rolf Monteiro in the written statement today (02/12).
“This round investments will further accelerate growth through the involvement of global markets and strategic local partnerships,” he explained.
Supported by Toyota Tunas Indonesia, BeliMobilGue.co.id is positioned to boost its business in Indonesia and improve the car logistics and storage business.Now, the company have more than 58 percent of all cars in Indonesia.
In 2019, the company will focus on financial services as core business development, specifically car financing, which offers significant synergies to facilitate qualified buyers with customized short-term car financing.
Through the BeliMobilGue.co.id strategic partnership with e-commerce player OLX and Toyota Tunas Indonesia, the company can engage with all automotive industry
players, who are directly connected with private car sellers and car buyers. The company said will remains focused on Indonesia, which is the largest car market in Southeast Asia.
Previously, BeliMobilGue.co.id obtained Pre-A Series funding worth US$ 3.7 million led by an independent Indonesian venture capital company, Intudo Ventures. Other supporting investors include Amand Ventures, Tasman Fund and Digital Garage.
Launched in April 2017, the provider is an online site that allows consumers to sell their cars to a broad buyer partner network consisting of over 1,000 qualified partners. The transaction process of BeliMobilGue.co.id lasts one hour from the beginning of the inspection to completion and at no cost to consumers.
As a joint venture company between the founder Rolf Monteiro, Berlin-based Frontier Car Group and an independent Indonesian venture capital company, Intudo Ventures, BeliMobilGue.co.id combines the best global business practices. In the management team, Rolf Monteiro, a global entrepreneur, joins key members of the company, Renée Van Haaren and Alexander Alvin, who each lead a marketing strategy.
As part of the Frontier Car Group network, BeliMobilGue.co.id has access to global capital and other similar business strategic networks that are successful in emerging markets, allowing companies to focus on business growth. Frontier Car Group is supported by Naspers/OLX, Balderton Capital, TPG Growth, and Partech Ventures.
Throughout 2018, BeliMobilGue.co.id focused on businesses in the Great Jakarta area, by opening more than a dozen new inspection locations, with a total of 30 locations throughout the region, while continuing to increase the number of employees.
The company also introduced financial services, exchange services for new cars and fleet sales services, which enabled large companies to sell large quantities of vehicles.
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