Aditya Hadi Pratama · · 1 min readEx-Gojek exec’s auto financing startup sweeps $3m funding
Broom, an Indonesia-based automotive financing startup, has raised US$3 million in a pre-seed funding round led by AC Ventures, with participation from Quona Capital and the founders of Kopi Kenangan and Lummo.
Broom co-founders (from left): Andreas Sutanto, Pandu Adi Laras, and Pungky Wibawa / Photo credit: Broom
Founded in 2021, Broom provides access for dealers in automotives to get short-term loans by putting their car inventories up as collateral. On top of that, Broom can also help dealers manage their inventory and find potential buyers with its online platform.
The company was established by Pandu Adi Laras, former COO of Gojek’s car rental service GoFleet. Other co-founders are Pungky Wibawa, who owns one of the largest BMW dealerships in Indonesia, and Andreas Sutanto, who is also experienced in the automotive business.
Broom stated that it currently has more than 2,000 used car dealerships in the Greater Jakarta area. It also counts financial institutions such as BRI Finance and BRI Insurance as partners.
See also: Series SEA: Who’s investing in the region’s fintech startups?
The startup plans to use the fresh funds to expand to other major cities in the archipelago, enhance its products, and double its team by the end of 2022.
Editing by Samreen Ahmad and Arpit Nayak
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