1. Startups

Broom Obtains Pre-Series A Fresh Funds Worth 154 Billion Rupiah [UPDATED]

Led by Openspace Ventures with participation from AC Ventures, Quona Capital, MUFG, and BRI Ventures

*update March 10, 2023: we update the information by adjusting the value and funding series

Digital platform for used car ecosystem Broom reportedly received pre-series A funding worth $ 10 million or around 154 billion Rupiah led by Openspace Ventures. This news was first reported by Deal Street Asia.

Based on data reported to regulators, AC Ventures and Quona Capital (both of which are past investors), as well as MUFG Innovation Partners and BRI Ventures also participated in this round. 

Previously, Broom secured $3 million (Rp. 43 billion) in pre-seed funding led by AC Ventures, as well as participation from Quona Capital and several angel investors, including the founders of Kopi Kenangan and Lummo.

DailySocial.id has contacted Broom management to confirm this news, but there has been no response until this news was published. 

Broom was founded by Pandu Adi Laras (CEO), Pungky Wibawa (CBO), and Andreas Sutanto (CFO) in 2021. Initially they developed solutions for SMEs in the automotive sector to facilitate the digitization of business processes showroom and providing productive financing facilities. Now Broom is more focused as a marketplace platform in this sector.

Digitalization of dealer work processes

The vehicle dealer's work processes are assessed still traditional. Stock of goods is recorded manually. When trying go online, Dealership owners admit they have difficulty finding the right buyers at their locations. Therefore, it is hoped that this solution can overcome the problem deadstock (stock that has not been sold for more than one month).

In an interview with DailySocial At that time, Broom Co-Founder and CEO Pandu Adi Laras said that the Broom platform allows dealer owners to manage inventory, financial bookkeeping, and manage their various sales instruments.

"This startup aims to become a center for digitizing the dealer network in Indonesia," he said. As of March 2022, Broom has more than 2.000 used car dealers in the Jabodetabek area.

Digitalization efforts in the automotive sector continue to grow. Initially, this sector was filled with many players car marketplace, such as Carro, Carsome, and LX Autos. Even Moladin, who initially played in motorbike purchases, has pivot to buying and selling used cars. 

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However, startup players are starting to explore point bread others in the automotive sector that can be supported by technology in line with the high use of private vehicles. For example, workshop solutions developed by Bengkel Mania, and financing showroom Broom is also targeting MSMEs.

Meanwhile, the Association of Indonesian Automotive Industries (Gaikindo) recorded retail car sales reaching 89.651 units as of October 2022.

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