broom
Broom provides access for dealers in automotives to get short-term loans by putting their car inventories up as collateral.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
| investor investor investor | €0.0 Valuation: €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
* | $5.0m | Debt | |
| Total Funding | 000k | ||
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In 2021, three visionaries, Pandu Adi Laras, Andreas Sutanto, and Pungky Wibawa, embarked on a mission to transform the used car market in Indonesia. They founded Broom.id, a startup aimed at streamlining auto-financing for used car dealers. Their goal was to address the inefficiencies in stock turnover and provide a digital platform that could empower automotive SMEs.
Broom.id quickly gained traction by offering innovative solutions that digitized business processes and facilitated access to capital for car dealers. This approach not only improved operational efficiency but also helped dealers manage their inventories more effectively.
A significant milestone in Broom.id's journey came in March 2023, when they secured a $10 million Pre-Series A funding round led by Openspace Ventures. This funding was pivotal in expanding their services and enhancing their platform's capabilities. Additionally, the investment from MUFG Innovation Partners further validated their business model and growth potential.
Today, Broom.id stands as a key player in Indonesia's automotive industry, continuously innovating to support the growth of used car dealerships. Their story is a testament to the impact of technology in transforming traditional industries and the potential for startups to drive significant change in emerging markets.