BeliMobilGue Secures Series A Funding Worth 140 Billion Rupiah
Funding was led by Frontier Car Group, supported by Jardines under PT Toyota Tunas Indonesia
Kristin Siagian - 13 February 2019
A marketplace for used cars, BeliMobilGue, secures Series A funding worth $10 million (around Rp140 billion) led by Frontier Car Group. Participated also in this funding, Jardines, under PT Toyota Tunas Indonesia and some previous investors. It is to be used for expansion to other cities, launch new vertical, increase sales, and talent acquisition.
Since the first launch in April 2017, BeliMobilGue focused on the marketplace concept which facilitates user to sell and connect with more than 1,000 qualified buyers.
BeliMobilGue has a special team for inspection with 300 points in total for each used car. Moreover, the result will be uploaded to the app for all partners can immediately bid.
BeliMobilGue's Founder and CEO, Rolf Monteiro said that this is a big achievement for him. The new investors and involvement of the previous investors are the reflection of trust and excitement. BeliMobilGue also claims to have achieved annual business growth of up to 10 times.
"I believe this round will show investor's strong validation towards our business in Indonesia, trusted and excited by the new investors coming to us. Using the latest funding, this round will fasten the growth through global affiliation and local strategic partnership," he explained.
After build up its business in Jabodetabek, BeliMobilGue is to introduce services in big cities around Java. It's still focused on Indonesian market which is considered as the biggest car market in Southeast Asia.
Included also the plan after funding, to develop technology platform, to provide better service for partners and users. BeliMobilGue also plans to recruit more talents for business development and ensure the high-quality experience for all end users.
Before this round, BeliMobilGue has secured $3.7 million pra-Series A funding or Rp52 billion led by Intudo Ventures and supported by Amand Ventures, Tasman Fund, and Digital Garage.
– Original article is in Indonesian, translated by Kristin Siagian