Indonesia’s Used Car Marketplace BeliMobilGue Raises $10M
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Used Car Sales Platform BeliMobilGue Raises $10M

BeliMobilGue funding will help the company to expand its operations in Indonesia.

https://dk2dyle8k4h9a.cloudfront.net/Used Car Sales Platform BeliMobilGue Raises $10M

Indonesian used car sales platform, BeliMobilGue, has secured a $10 million Series A funding led by Frontier Car Group, which is also the startup’s parent company. Other existing and new investors also took part in the effort including Tunas Toyota - the authorized dealership for Toyota cars in Indonesia.

The used car sales company which was started in 2017 as a joint venture between Europe’s Frontier Car Group and Intudo Ventures, said it would utilize the funding to further expand its business into different cities, launch new services, strengthen sales and marketing efforts and strategies, and increase their team.

BeliMobilGue funding came one year subsequent to the company’s previous $3.7 million Series Pre-A round led by Intudo ventures, with joined efforts of Amand Ventures, Tasman Fund, and Digital Garage.

BeliMobilGue CEO Rolf Monteiro said,

Through its platform, BeliMobilGue aims to enable users to sell their used cars to a private network of over 1,000 qualified buyers. It conducts a 300-point inspection on each used car and uploads the report onto its partner app, which allows Indonesian buyers to place an offer on the cars against competing for offers.

Currently, the company has 30 physical stores in the Jakarta region, the capital city of Indonesia, and it is targeting its expansion to Java. Monteiro boasts that by the end of the year, the number of physical testing points will surpass 100.

He further added,

Due to its parent company, Frontier Car Group, which is backed by investors including Naspers/OLX, Balderton Capital, TGP Growth, and Partech Ventures, BeliMobilGue has access to global capital and a strategic network of successful businesses

The company’s regional rivals, Carro, Carsome, and iCar Asia have raised $78 million, $27 million, and $39 million to date respectively. Each of these companies serves multiple markets, not Indonesia exclusively, which goes in for the GoMobilGue’s advantage keeping in mind that Indonesia is one of the largest auto markets in Southeast Asia.

MAD Team
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