BeliMobilGue raises $10M for its used-car sales platform in Indonesia

BeliMobilGue, a used car sales platform in Indonesia, has fueled up with a $10 million Series round for the race to dominate the automotive market in Southeast Asias largest economy.
The company was started in 2017 as a joint venture between EuropesFrontier Car Group (FCG) and Intudo Ventures, a VC firm focused on Indonesia.BeliMobilGue said today that the capital came from FCG and new investors, which include Tunas Toyota the authorized dealership for Toyota cars in Indonesia.
Its worth noting that FCG itself is a venture which, as the name sounds, develops on automotive ventures in emerging (frontier) markets in Latin America, Asia and Africa. Its investors include Naspers/OLX, Balderton Capital, TPG Growth and Partech Ventures.
This Series A round follows a $3.7 million round last year for BeliMobilGue which means buy my car in Indonesias Bahasa language.
BeliMobilGue is aimed at making it easy for car owners to sell theirvehicle.
The first step is an online price estimation for vehicle. If the owner is happy with the valuation,BeliMobilGuetakes the vehicles in and, after a one hour check attended inperson by its testers, it arranges asale to its network of over 1,000 dealers and private buyers. The entire process is targeted at one hour and is free for consumers,BeliMobilGue CEORolf Monteiro told TechCrunch.
The company has 30 physical testing points across Jakarta, Indonesias capital city, and with this money in the bank it is targeting expansion to Java. By the end of this year,Monteiro forecasts that the number of physical stations will have passed 100.
Another target for this year is ancillary services.BeliMobilGue is focused on enabling dealers, many of whom are often small businesses rather than nationwide chains, to growth with its service so it is offering financial packages financed by a third-party bank.
The difference between small and large dealerships is their access to capital,Monteiro explained in an interview. We are a little bit more comfortable [than a bank] to extend their finance because were not just using data, were sitting on that dealer relationship.
Plus we are sitting on cars, so we are financing cars that come from our platform and [if necessary] we can help offload the car for the dealer, he added.
BeliMobilGue raises $10M for its used-car sales platform in Indonesia
BeliMobilGue aims to sell vehicles within an hour, that includes a comprehensive inspection thats carried out by its staff and covers 300 points.
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