Indonesian Based Startup Mobilkamu Successfully Raises Series A Round

Thu Mar 21, 2019 - 7:42am UTC
Mobilkamu 2

Mobilkamu

21/3/2019 – According to an official release, the series A funding was led by East Ventures and Genesia Ventures. Another firm to join the funding round is Denali Venture Partners (Denali Mitra).

Founded in 2015, Mobilkamu is an Indonesian startup co-founded by Wilton Halim from Indonesia, Kalen Iselt from Australia and Caue Motta from Brazil. The company is set to provide solutions to the Indonesian auto market.

Previously in Indonesia, the only way to buy a new car is by physically visiting car dealers and comparing deals. The lack of financing options also proves to be another obstacle for locals needing a new vehicle.

Halim 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’s what we are doing with Mobilkamu, starting with reshaping the future of new car financing.”

The company provides an accessible online platform for new car buyers, featuring fair prices and more financing options, without the hassle of manually comparing offers from different dealerships.

“Mobilkamu combines the human touch necessary to Indonesian consumers with the utilization of technology to ensure the process between dealers, finance companies and our customers is as seamless as possible,” said co-founder Iselt.

“Through proprietary technology, Mobilkamu has introduced a seamless experience of buying a new car by removing frictions of end consumer interacting with too many parties. This also creates high values for car sales agents, financing companies, and car dealerships to operate more efficiently thus making the price more affordable,” said East Ventures partner Melisa Irene.

Headquartered in Mega Kuningan, South Jakarta, the company also has branch offices in Bekasi and Ciputat with a combined team of 70 staff.

Mobilkamu currently has partnerships with over 80 car dealers across the greater Jakarta area and multiple financial partners including Bussan Auto Finance, BCA Finance, Mega Auto Finance, Mandiri Tunas Finance, and Bank Jasa Jakarta.

The company has previously raised an undisclosed seed funding round in 2017.

This news is published on Reuters.

Lo Jia Thong is a writer that writes about the latest announcements on venture capitals and startups from Southeast Asian countries.