JAKARTA (TheInsiderStories) – Moladin, the first online platform to buy motorcycle in Indonesia, has raised a US$1,2 million funding from East Ventures, Berjaya Group and Ethos Partner, said the company today (12/07). The fresh fund will be used to help Moladin’s expansion and growth across the country.
Since it’s official launch in November 2017, Moladin has partnered with over 40 dealers and some of financing companies in Indonesia. Moladin also experienced phenomenal growth, having completed over $1 million in transactions and growing around 20 percent to 30 percent every month.
Jovin Hoon, Co-founder of Moladin explained, “Such growth is mainly driven by the extreme ease of buying motorcycles via the platform. Before Moladin, buying motorcycles from dealerships is extremely time consuming and cumbersome.”
He continues, consumers are expected to make 2-3 visits to dealerships, to deal with the complicated process of purchasing, financing and plate number registration. However, Moladin eliminates this hassle by handling the whole process for the consumers without them having to step into any dealership.
“Another factor that propels Moladin’s growth is also the huge discounts they are offering to consumers,” said Hoon.
Willson Cuaca, Managing Partner of East Ventures, comments, “Moladin’s volume of sales in May 2018 has tripled since their start in January. This represents the growing confidence of customer buying Motorcycles from Moladin.”
He continued, there is plenty room for growth in the motorcycle industry. Cuaca believed that the Moladin’s business model will dominate the market as more people become comfortable buying motorcycles digitally.
Moladin originates from 2 words, “Motor” and “Aladdin”, which encompasses the founders’ vision to answer the needs of every biker in Indonesia. With this vision, Moladin sets its sights on transforming the whole motorcycle industry, one step at a time.
The company also have other features on the platform, which includes an online workshop directory for bikers to find servicing workshop nearby, a forum for bikers to ask and answer any questions about motorcycles and a place for bikers to leave reviews on spare-parts and apparels.
Moladin is an online platform built as a solution to solve bikers problem in finding information about motorcycle in one place and purchase motorcycles without hassle via online. Moladin shortens the motor purchasing process from offline or conventional way to online.
East Ventures is an early stage venture fund focused on Southeast Asia and Japan. Over several years, East Ventures has invested in hundreds of companies in Indonesia, Singapore, Japan, Malaysia, and Thailand. The majority of East Ventures’ portfolio firms have been able to raise follow-on financing rounds.
The fund manager has a strong track record in developing pan-Asia tech ecosystems and backing startups in their early days. Success cases include companies such as Tokopedia, Traveloka, Mercari, Disdus (acquired by Groupon), Kudo (acquired by Grab), Tech in Asia, Omise, IDNTimes, Ruangguru, Jurnal, Cermati, MokaPOS, ShopBack, EVHive, Pasar Polis
and Loket (acquired by Gojek).
Written by Staff Editor, Edited by Linda Silaen, Email: firstname.lastname@example.org