- Funds will be used to expand the team, grow across Indonesia
- Has partnered with over 40 dealers since November 2017
MOLADIN, an online motorcycle platform in Indonesia focusing on motorcycle e-commerce, announced on July 12 that it has secured US$1.2 million in funding from East Ventures, Berjaya Group and Ethos Partners.
The fresh funds will be used to help Moladin’s team expansion and growth across other regions in Indonesia.
Since it’s official launch in November 2017, Moladin has partnered with over 40 dealers and some of the biggest financing companies. Moladin has completed over US$1 million in transactions and grows 20% to 30% every month.
Moladin co-founder Jovin Hoon (pic, right) explained, “Such growth is mainly driven by the extreme ease of buying motorcycles via the platform. Before Moladin, buying motorcycles from dealerships was extremely time consuming and cumbersome.
“Consumers are expected to make two to three visits to dealerships, to deal with the complicated process of purchasing, financing and plate number registration.
“However, Moladin eliminates this hassle by handling the whole process for the consumers without them having to step into any dealership.
Another factor that propels Moladin’s growth is the huge discounts they are offering to consumers.
“Our rapid growth shows strong validation to what we are building. We are extremely excited about our journey ahead,” he adds.
East Ventures managing partner Willson Cuaca, comments, “Moladin smooths out the process of buying a motorcycle by working together with network of dealers and financiers.
"Potential buyers don’t have to travel far and wait a long time to buy a motorcycle. Moladin’s volume of sales in May 2018 has tripled since their start in January. This represents the growing confidence of customers in buying motorcycles from Moladin.
“There is plenty room for growth in the motorcycle industry. We believe that their business model will dominate the market as more people become comfortable buying motorcycles digitally.”
Bringing a magical experience to consumers
Moladin originates from two words, “Motor” and “Aladdin”, which encompasses the founders’ vision to answer the needs of every biker in Indonesia.
With this vision, Moladin sets its sights on transforming the whole motorcycle industry, one step at a time. There are also have other features on the platform, which includes an online workshop directory for bikers to find servicing workshop nearby, a forum for bikers to ask and answer any questions about motorcycles and a place for bikers to leave reviews on spare parts and apparel.
With the tagline “Ingat Motor, Ingat Moladin”, the startup wants to make their product come to mind whenever people think about motorcycles.
With a genie logo, Moladin wants to portray the “magical” experience where bikers can purchase a motorcycle without having to leave their house and face the complicated buying process with dealers. The whole transaction can be completed by using a phone.
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