East Ventures, Berjaya back $1.2m round in Indonesian motorcycle platform Moladin

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Moladin, an online motorcycle platform in Indonesia, has secured $1.2 million funding from East Ventures, Berjaya Group and Ethos Partners, the startup announced in a statement.

The Moladin platform attempts to help bikers find information and enable the purchase of motorcycles. The platform also has other features such as a servicing workshop directory, a Q&A forum for bikers and a place where users can share their reviews on spare parts and apparel.

Since its official launch in November 2017, Moladin says it has partnered with over 40 dealers and some of the biggest financing companies. Moladin claims to have completed over $ 1 million in transactions and is growing at 20-30% every month.

“The growth is mainly driven by the extreme ease of buying motorcycles via the platform. Before Moladin, buying motorcycles from dealerships was time consuming and cumbersome. Consumers 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,” said Moladin C-Founder Jovin Hoon.

The startup will use the funding for team expansion and growth across other regions in Indonesia.

East Ventures Managing Partner Willson Cuaca said,  “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. There is plenty room for growth in the motorcycle industry.”

East Ventures last year invested in a similar startup for car sales called Mobilkamu, which aims to assist consumers in selecting their cars via a personalised experience.

The early stage VC firm’s most recent funding was also in a startup related to automotive in the form of an undisclosed amount Series A investment for Montir​, an on-demand automotive service and spare parts company that aims to bring car workshop to customer’s location.

Also Read: 

Indonesian automotive service startup Montir raises Series A from East Ventures

Matrix Partners co-leads $473m round in China’s electric car maker CHJ Automotive

Malaysia’s Carsome to invest $7.1m in Indonesia operations

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.