JAKARTA - New car marketplace Mobilkamu has raised an undisclosed amount of fresh funds in a Series A funding round led by East Ventures and Genesia Ventures.
Mobilkamu said the fresh funds will be used to expand its reach in the local market and to develop its products and technologies. In 2017 the company raised an undisclosed amount in a seed funding round.
“Through proprietary technology, Mobilkamu has introduced a seamless experience of buying a new car by removing frictions of end consumer interacting with too many parties,” said East Ventures partner Melisa Irene as quoted by DealStreet Asia.
“This also creates high values for car sales agents, financing companies, and car dealerships to operate more efficiently thus making the price more affordable.”
Mobilkamu added that this year it plans to open new branches in different cities in Indonesia. (MS)