Bringing an Efficient Customer-focused Approach to the New Car Market, Mobilkamu Secured Series A Investment
21 March 2019
Jakarta, 21 March 2019 – Mobilkamu, Indonesia’s leading online platform for new car buying, has secured an undisclosed amount of Series A investment led by East Ventures and GenesiaVentures. Also participating in the round is Denali Mitra. This raise of capital will allow Mobilkamu to achieve its goal of becoming the top-of-mind new car buying platform for Indonesians by increasing its reach and improving all of its products and technologies.
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’s 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.
Wilton 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’s what we are doing with Mobilkamu, starting with reshaping the future of new car financing.”
What Mobilkamu offer is ease of mind for anyone buying a new car in Indonesia. 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. 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.
Melisa Irene, Partner of East Ventures, said, “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. As an early backer, we are excited to continually support Mobilkamu’s growth to unlock new car market potential in Indonesia.”
In 2018, the company has risen to become a relevant player in Jakarta’s 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 Jabodetabek, as well as a diverse range of financial partners, such as Bussan Auto Finance, BCA Finance, Mega Auto Finance, Mandiri Tunas Finance, and Bank Jasa Jakarta, among others. This allows Mobilkamu 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, distributed across their Headquarters in Mega Kuningan, as well as their Bekasi and Ciputat branches, 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.
“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 Kalen Iselt, Co-Founder and COO of Mobilkamu.
Caue Motta, Co-Founder and CCO of Mobilkamu, said, “For the past year, we have greatly improved our customer service, increasing the range of products we can offer, including a new exciting initiative that aims to provide eligible customers with access to a care system that will support them for the lifetime of their car ownership.”
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% of the total market of 3,2 million car units in ASEAN1. This number of sales is comparable to the whole car sales in Australia2 in the same year.
To date, Indonesia has only under 5% of car penetration rate3, 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% of all connected car buyers have switched to online4 and more affordable LCGC segment vehicles available in the market, presents even more opportunity for growth in car sales within the next few years.
3 Indonesian Multi-finance Companies Report, 18/04/17, DBS Group Research
4 Google Data, Year in Search: Insights for Brands 2018