Automo Secures Seed Funding, Strengthen the Luxury Vehicle Rent Business in Indonesia
Funding worth Rp1 billion from Startup SG, with grant from Enterprise Singapore worth of Rp300 million
Yenny Yusra - 2 August 2018
After starting its service in Jakarta, luxury vehicle rent platform Automo has announced it receives seed funding worth of Rp1 billion from Startup SG. The Singapore-based startup founded by Charles Lin has also achieved a grant from Enterprise Singapore worth of Rp300 million.
In addition, Automo announces the expansion in three cities, including Yogyakarta, Bandung, and Bali.
"Currently, besides Jakarta, Automo is available in three popular destinations in Indonesia. Starting from Jakarta, we've been focusing on team development, and planning expansion to other cities," he said.
Automo also plans to add more variant for middle to high-class tourism transport option, such as private jet, helicopter, and the yacht.
"We have partnered up with Transwisata and CeoJetset to add premium transportation rental options for tourists. However, for the vehicles, we have added international brand options, including Mercedes S Class, Rolls Royce, and limousine," he added.
Particularly for the most favorite destination in Indonesia, Bali, Automo provides two-wheeler transportation rentals, adjusting the habits and needs of foreign and local tourists to Bali.
Plans and targets
In terms of payment, Automo only provides a credit card option. However, to add payment options for customers, Automo is currently building a local legal entity to be integrated with local payment providers in Indonesia. The plan is to be finalized by the end of 2018.
"After bank transfer, we also plan to provide installment options for the customers," Lin said.
In addition to the new locations in popular destinations, Automo continues the technology development in Singapore. They keep making negotiation and discussion with hotels and travel agents to connect Automo services with foreign and local tourists.
"We keep adding partnership with Singapore and Indonesian vendors. One example is when CeoJetset customers rent a jet from Jakarta to Bali. They can also rent Mercedes S Class in Bali through Automo with CeoJetset as a vendor partner. Partners will receive a referral fee later," Lin explained.
Automo would like to invite more partners to provide rental options that can be directly monetized by related partners. It applies to all travel agents in Bali.
"Currently, we have 50 total vendor partners approximately in Indonesia, the same goes in Singapore," he concluded.
– Original article is in Indonesian, translated by Kristin Siagian