JAKARTA (TheInsiderStories) – Mobilkamu, Indonesia’ online platform for new car buying, has secured an undisclosed amount of Series A investment led by East Ventures, Genesia Ventures, and Denali Venture Partners, said the company yesterday (03/21).
Founded by Wilton Halim from Indonesia and two other founders from Australia and Brazil, they combined their global and local knowledge to solve the problem in Indonesia’ new car market, where the only option for customers buying a new car is to go directly from dealer to dealer to find the best deal. Furthermore, they also face difficulties to source car financing options.
Melisa Irene, Partner of East Ventures, stated, “As an early backer, we are excited to continually support Mobilkamu’ growth to unlock new car market potential in Indonesia.”
While, Halim, Co-Founder and CEO of Mobilkamu, explained, “We can clearly see that there are many things that need to be improved in order to create a fair and efficient car market in Indonesia for everyone and that’ what we are doing with Mobilkamu, starting with reshaping the future of new car financing.”
The online car industry in Indonesia itself is very fragmented, with a number of car classifieds ads websites all claiming to be the number one platform for buying and selling cars. This only leaves consumers overwhelmed with too many options, while all those sites basically have the same car listings.
Halim noted, with Mobilkamu, customers are offered the fairest price in the market for cash or financing new vehicles, without the hassle of needing to research and compare multiple offers.
In 2018, the company has risen to become a relevant player in Jakarta’ enormous new car market, managing to sell and deliver over 150 vehicles from many different brands per month to its customers’ door with their custom towing fleet.
Mobilkamu has established partnerships with over 80 car dealers across Jakarta areas, as well as a diverse range of financial partners, such as PT Bussan Auto Finance, PT BCA Finance, PT Mega Auto Finance, PT Mandiri Tunas Finance, and PT Bank Jasa Jakarta, among others.
This allows the online car seller to keep rapid growth while doing geographical expansion. In 2019, the company plans to open new branches in different cities in Indonesia, that can greatly benefit from their technology when it comes to creating a fair and efficient environment for the regional new car market.
With a team of over 70 Jakarta-based staff members, Mobilkamu now also operates a motorbike selling platform named Motorkamu and launched an agent affiliation program named Mitra Mobilkamu. The program promises to provide a fair source of income for Indonesians who are interested in selling new cars themselves.
Indonesia is the most important market for cars in Southeast Asia region. Indonesia leads the number of new-car sales with over 1 million units sold in 2018, taking more than 30 percent of the total market of 3,2 million car units in ASEAN. This number of sales is comparable to the whole car sales in Australia in the same year.
To date, Indonesia has only under 5 percent of car penetration rate, meaning there’s a huge potential of new car buyers to tap into. Furthermore, a rapidly growing middle class, combined with the fact that over 75 percent of all connected car buyers have switched to online and more affordable LCGC segment vehicles available in the market, presents even more opportunity for growth in car sales within the next few years.
by Linda Silaen, Email: email@example.com