Through Moladin Finance Indonesia (MOFI), the company provides loan access with a maximum loan of US$33,529 and investment credit of up to US$67,060.
Heaptalk, Jakarta — Moladin Group has expanded its new business lines by introducing PT Moladin Finance Indonesia (MOFI), previously known as PT Pr Car International Finance (Pro Car).
This new business unit is a Moladin acquisition result of Pro Car for an undisclosed amount, which is expected to strengthen the second-hand car ecosystem, particularly regarding the financing necessities in this industry. According to the Senior Vice President of Lending at Moladin, Mulyadi Tanjung, the company took over most of Pro Car stocks and obtained a license from Indonesia’s Financial Services Authority (OJK) last February 2023.
As the financing company, the presence of MOFI in Moladin’s ecosystem will deliver added value for its customers, automotive agents, and dealer partners of this automotive marketplace startup that needs financing access.
Furthermore, in this early stage, this new business line will focus on consumer needs fulfillment related to investment financing, working capital financing, and consumptive requisites through multipurpose financing. Regarding the working capital loans, this company provides loan access with a maximum loan of US$33,529 (Rp500 million) and investment credit of up to US$67,060 (around Rp1 billion).
“Since focusing on the used car industry in 2021, Moladin has continued to strive to build a comprehensive digital automotive platform for Indonesia. This ecosystem will have many integral elements where financing is key among today’s various ancillary services offered,” the Chief of Government Relations and Public Affairs of Moladin, Hafif Assaf, voiced.
As a newcomer to the financing industry, MOFI recognizes the importance of cheap sources of funds to provide competitive tenors in the market. Hitherto, the company still relies on sources of funds from its equity combined with local and international banks. Through this business expansion step, Hafif expects to strengthen the company’s existence as a one-stop shop for all automotive needs for stakeholders throughout the ecosystem.
Establishing a MOFI business unit also enables Indonesia’s MSMEs to receive working capital loan access. In addition, this new business unit can also provide customers with access to financing options to meet cash needs, both for consumption purposes and emergency matters.
During its journey in the automotive sector, the company claimed to have more than 150,000 agents and more than 6,000 dealer partners. Meanwhile, this automotive startup has also successfully partnered with 24 financing companies.
