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Auto financing start-up Broom raises $3 million in pre-seed funding
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Broom cofounders Andreas Sutanto (left), Pandu Adi Laras (center) and Pungky Wibawa (Broom/-)
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uto financing start-up Broom has raised US$3 million in a pre-seed funding round that was led by AC Ventures and also involved angel investors.
Other investors in the pre-seed round included venture firm Quona Capital, coffee chain Kopi Kenangan and bookkeeping start-up Lummo.
Broom cofounder and CEO Pandu Adi Laras said the capital would be used to develop new products and services to improve the customer experience, expand the firm’s operations to more Indonesian cities and double the team by the end of 2022.
“We will continue striving in our journey to empower used car dealers in Indonesia with the support from reputable investors,” Pandu said in a statement on Friday.
Read also: Auto financing to drive recovery of multifinance sector in 2021: APPI
A motor vehicle financing company that seeks to provide end-to-end financial solutions for car dealer inventories, Broom equips dealers with operational enhancements, online sales enablers and access to financing.
Eventually, the start-up hopes to be at the center of digitizing the dealership network.
