Moladin said it will use the fresh fund to accelerate its existing products scaleup, build new features such as new car sales category and auto mortgage loans, as well as expansion to new cities.
Mario Tanamas, COO of Moladin explained, “Since its inception, Moladin continues to improve its products and innovate to answer the needs of all Indonesian motorists. This is in line with Moladin’s vision to become a one-stop automotive platform and an inseparable part of Indonesian motorists’ lifestyle.”
Moladin was founded in 2017, starting off by providing a platform for Indonesian consumers to purchase new motorbikes online. Their platform allows customers to transact and complete their purchase in one platform, getting information about motorcycles and bikes, provides an online directory for bikers to find the nearest servicing workshop, and communities to exchange reviews on spare parts and apparel.
In May 2019, the company starts to open its platform for used motorbikes. The featured, the company claims, immediately drew over 8,000 listings with a third of it quickly sold in less than seven months.
The company also started facilitating automotive mortgage loans in December 2019, and since then has disbursed about $60,000 in loan amounts.
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