May 11

Indonesia’s Moladin Raises $95 Million Series B Funding to Grow Its Automotive Ecosystem

Moladin, an Indonesia-based omnichannel used car marketplace, announced Monday it has secured Series B funding of $95 million led by global internet investment firm DST Global.

Earlier this year, Moladin raised $42 million in Series A Funding co-led by Sequoia Capital India and Northstar Group in what was one of the largest Series A rounds in Southeast Asia.

Existing key investors East Ventures, Northstar Group and Sequoia Capital India also participated in the Series B round, Moladin said in a statement.

With the newly raised funding, Moladin said it will continue to grow its comprehensive ecosystem for dealers, agents and end customers, and will work closely with partners to provide value-added services.

Photo courtesy of kAz.

Source: TechNode Global (link opens in a new window)

Investing, Technology, Transportation
partnerships, transportation