Indonesian motorcycle platform Moladin raises pre-Series A led by East Ventures

Moladin team.

Jakarta-based e-commerce platform for motorcycles Moladin has secured an undisclosed amount of pre-series A funding round led by East Ventures, it said in a statement.

CyberAgent Capital and several other angel investors too joined the round. Moladin will deploy the proceeds to add new categories such as car sales and auto mortgage loans and to expand to new cities.

Moladin COO Mario Tanamas said, in the statement, “This is in line with Moladin’s vision to become a one-stop automotive platform and an inseparable part of Indonesian motorists’ lifestyle.”

Moladin started off in 2017 as a one-stop platform for the purchase of new motorbikes. The platform features information about motorcycles and bikes, an online directory of service workshops, and communities to exchange reviews on spare parts and gear.

In May last year, the company opened its platform for used motorbike sales, which attracted over 8,000 listings with a third of it sold in less than 7 months.

In December 2019, Moladin started facilitating automotive mortgage loans and has disbursed about $60,000 to date. The company claims a 2x growth in GMV over the past year.

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.

Lead investor East Ventures, which has launched six funds in the last seven years, is one of the venture capital pioneers in Indonesia. Last August, East Ventures announced the close of its sixth fund at $75 million, more than double an initial $30-million target.

 

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).   

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  • 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. 
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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.