Broom Secures US$10 Mln Despite Automotive Slowdown

By Editorial Team 13/03/2023
car marketplace
Summary

Fintech and used car e-commerce platform Broom raised US$10 million in a pre-Series A funding round. DealStreetAsia and Daily Social reported on March 8 that it was led by Openspace Ventures and participated by AC Ventures, Quona Capital, MUFG Innovation Partners, and BRI Ventures.

AC Ventures and Quona Capital are Broom's existing investors. Broom co-founder Pandu Adi Laras explained that the platform provides financial solutions and operations, allowing dealers to manage inventory, bookkeeping, and various sales instruments.

"This startup aims to become a digitizing center for the auto dealer network in Indonesia," he said. As of March 2022, Broom partnered with more than 2,000 used car dealers in Jakarta and its surrounding areas.

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