Move Office in Jakarta, Carmudi Target Outside Java Island

INDUSTRY.co.id - Jakarta - Carmudi receives US $ 10 million from a joint venture of HV Holtzbrinck Ventures, Tengelmann Ventures and APACIG. This additional funding of Carmudi became crucial due to the removal of Carmudi's main office from Berlin, Germany to Asia.

"Along with the growing Carmudi market in Southeast Asia, we moved our headquarters to Jakarta, Indonesia," said Carmudi Asia CEO Pranjal Kanwar in Jakarta, Tuesday (23/1/2018).

Carmudi.co.id Managing Director Stefano Kirihettige Perera said that this year Carmudi.co.id will target markets outside Java, such as Kalimantan and Sulawesi.

"We are not only focusing on the island of Java, now we will continue to drive and contribute to the Indonesian automotive market." he said.

Meanwhile, General Partner, HV Holtzbrinck Ventures Martin Weber said, online vehicle buying and selling market in Southeast Asia is currently experiencing rapid development. And Carmudi.co.id has become the best in Indonesia, as well as carmudi in the Philippines.

"With this new funding, we believe Carmudi will grow, especially with the new management team," said Martin.

In 2014, Carmudi started an online vehicle buying and selling business with an investment of US $ 10 million. Then resumed in 2015, with an additional investment of US $ 25 million.

Since then Carmudi in Indonesia and the Philippines has grown rapidly and is able to become a master of the market of buying and selling vehicles online.

For this year the funding will be used to improve Carmudi's operations in both countries. The site already has over 100,000 vehicle ad listings with 5 million users each month.