Moladin Raises US$1.2 Million to Help Consumer in Buying Motorcycle Online
12 July 2018
Jakarta, July 12, 2018 – Moladin, a leading online motorcycle platform in Indonesia focusing on motorcycle e-commerce, announced earlier today that it has secured US$1.2 million funding from East Ventures, Berjaya Group and Ethos Partners. The fresh fund will be used to help Moladin’s team expansion and growth across other regions in Indonesia.
Since it’s official launch in November 2017, Moladin has partnered with over 40 dealers and some of the biggest financing companies. Moladin also experienced phenomenal growth, having completed over US$ 1 million in transactions and growing 20-30% 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. 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.”
“Our rapid growth shows strong validation to what we are building. We are extremely excited about our journey ahead,” he adds.
Willson Cuaca, Managing Partner of East Ventures, comments, “Moladin smooths out the process of buying a motorcycle by working together with a network of dealers and financiers. Potential buyers don’t have to travel far and wait a long time to buy a motorcycle. 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. There is plenty of room for growth in the motorcycle industry. We believe that their business model will dominate the market as more people become comfortable buying motorcycles digitally.”
Bringing Magical Experience for Indonesia Consumers
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, it sets its sights on transforming the whole motorcycle industry, one step at a time. They 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.
With tagline “Ingat Motor, Ingat Moladin”, it wants to make their product come to their mind whenever people think about the motorcycle. With a genie looking logo, it wants to portray the “Magical” experience where bikers can purchase a motorcycle without having to leave their house and facing the complicated buying process with the dealers. The whole transaction can be completed simply by just using a phone.
It is an online platform built as a solution to solve bikers problem in finding information about the motorcycle in one place and purchase motorcycles without hassle via online. Moladinshortens the motor purchasing process from the offline/conventional way to online. With Moladin, consumers who want to buy a new motorcycle can feel the ease and simple process without having to go step out from their home. Moladin has partnered with several motor dealers and brands, as well as leasing companies to give consumers various options and discounts. Moladin also offers various payment method to fit consumers’ needs.