Moladin Raises Pre-Series A Round Led by
16 January 2020
Jakarta, 16 January 2020 — Moladin, Indonesian first and largest e-commerce platform for motorcycles, announced earlier today that it has secured an undisclosed amount of Pre-series A funding round led by East Ventures. The round is joined by new investor CyberAgent Capital and several other angel investors. The fresh fund will accelerate Moladin in scaling their existing products, building 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 never ceased in improving 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.”
Founded in 2017, Moladin starts by providing a platform for Indonesian consumers to purchase new motorbikes without hassle. 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 apparels. In May 2019, the company starts to open its platform for used motorbikes. The featured immediately draw over 8,000 listings with a third of it quickly sold in less than 7 months. The company also starts facilitating automotive mortgage loans on Dec 2019, and since then has disbursed about US$60k in loan amounts. With many solutions offered, the company has been enjoying 2x growth in GMV over the past year.
Read also: Moladin Raises US$1.2 Million to Help Consumer in Buying Motorcycle Online
In Indonesia, 6.5 million motorcycle units were sold in 2019, up around 2% from 2018. By 2025, the Government plans to increase motorcycle production up to 10 million units a year.
Melisa Irene, Partner of East Ventures says, “We believe in Jovin and Mario’s vision for Moladin to become industry leader in motorist space. Throughout 2 years journey, the team had shown significant progress in realizing this vision.”
“With millions of new motorcycles sold every year, motorcycles have always been an integral part of many Indonesian people’s lives. However, the industry itself is still run traditionally where people have to physically visit different dealerships just to get the specific type or model of the motorcycle they want. With Jovin’s and Mario’s experience in the motorcycle industry, we are confident that Moladin can revolutionize the way people shop for motorcycles and becomes the number one all-in-one platform for all motorcycle-things related”, explained Nobuaki Kitagawa, Managing Director of CyberAgent Capital.