Indonesia: Mobilkamu raises seed funding from East Ventures & Denali Partners

Promotional image from Mobilkamu.

Mobilkamu, a personalised end-to-end solution for car buyers, has secured an undisclosed amount of seed funding from early-stage venture capital firm East Ventures and Denali Partners, as well as secured Bukalapak as its exclusive partner.

Founded in 2015, Mobilkamu is an online car financing platform that aims to assist consumers in selecting their cars via a personalised experience that sees the platform curate the best deals for them.

The company was founded by CEO Wilton Halim and COO Kalen Iselt. Halim has a background in Australia-based The Exchange Group and previously founded PerabotIndonesia, while Iselt previously worked for the Australian marketplaces Bike Exchange and car platform CarDeals2U.

Mobilkamu aims to enable first-time car buyers in Indonesia, who are price-sensitive, to enjoy savings and low financing rates on their platform through the selection of several financing options.

Halim told this portal:  “We initially moved to Indonesia with the idea to work only with new car dealerships, and to help people find the largest discount between individual dealers. We soon realised that while there is some money to be saved by comparing dealers, the real help we could provide to customers was with new car financing, where we could save customers much more than just a few million rupiah.”

“This led us to begin conversations with financing companies and eventually led to us having a large network of both partner dealerships and finance companies to help us provide the best price for our customers,” he adds.

This seed round will see them opening offices in Tangerang and Bekasi to expand their reach throughout different areas of Jakarta. Halim adds, “By March 2018 we plan to expand to other large Indonesian cities with a high demand for new vehicles – not just limited to within Java – including Surabaya, Bandung and Medan.”

Chris Angkasa from Denali Partners said, “Mobilkamu has great position to improve car-buying process and access in Indonesia.There are many problems to be solved in the industry, and they can bring many solutions to improve existing ecosystem.”

Since receiving funding, Mobilkamu has secured an exclusive partnership with Bukalapak to manage “Bukamobil.” The team is on track to reaching over half a million dollars in revenue in 2017 alone and will use the funding to continue expansion to more towns in Indonesia.

Asked about their exit plans, Halim told DEALSTREETASIA, “At this stage, we are still focused on expanding operations throughout Jakarta and beyond, but we see that our technology will be a big part of what makes us successful in the long term, and bring value to our company in the future.”

“While there are a lot of online car classifieds right now focusing on helping to provide leads to dealers (for both new and used car), we are focused on creating new car sales. This is the differentiating factor for us in this space, and why we believe that we present a viable business model and valuable service as opposed to other businesses focusing on mass advertising of vehicles only.”

Also Read:

East Ventures makes seed investment in Indonesian advertising startup StickEarn

East Ventures makes $889k seed investment in Japan’s Nulab

East Ventures launches Indonesia-focussed $30m early stage fund

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.