Funding Pockets 133 Billion Rupiah, Carmudi Strengthens Position in Indonesia

After previously a marketplace service for used cars BeliMobilGue.co.id announcing the acquisition of Pre-Series A funding of $3,7 million (approximately 50 billion Rupiah), car buying and selling platform Carmudi Indonesia also announced that it has recently received funding of USD 10 million (approximately 133 billion Rupiah) from a consortium of investors HV Holtzbrinck Ventures, Tengelmann Ventures, and APACIG.

To DailySocial, Managing Director of Carmudi Indonesia Stefano Kirihettige Perera said that part of the funding has been used for operational costs. The rest will be used to strengthen Carmudi's position in Indonesia.

"In Indonesia we currently have the best growth, as well as other countries such as the Philippines and Sri Lanka. To strengthen our position in Java, we will use funding."

Stefano added that although Carmudi's position was quite stable on the island of Java, this was not the case in other areas such as Kalimantan and Sulawesi. This will be Carmudi's concern.

"We will also update the appearance of our site, changing the back end, and launching new features related to new businesses which we will soon launch at the end of February," said Stefano.

Selling new cars with special services

As a portal classified ads which is quite aggressive in helping the sale of used cars, Carmudi will present new services for users who are looking for a new car with special needs. This service will be supported by the technology of Carmudi's dealer partners.

"Unlike used car sales in general, dealers don't really need the same technology advance, while for new cars most dealers are accustomed to using technology, that is what we will try to present," said Stefano.

Asked whether Carmudi will expand other services such as car rental in the future, Stefano emphasized that in the future there are still many plans that will be launched by Carmudi, but the current focus is on classified ads and funding for the purchase of used to new cars.

"After presenting financing for buying used cars we see quite a lot demand from the user. Furthermore, we will also present financing for the purchase of a new car," said Stefano.

Currently, Carmudi's biggest competitor for used car sales is OLX, while for new car sales, it is stated that OTO is Carmudi's closest competitor at this time.

"We are still optimistic about the latest plans and features until the changes that we will present soon, so that Carmudi can become "one solution"For car buyers," closed Stefano.