Broom Secures $25M to Transform Car Market

Broom, a tech startup focused on empowering Indonesia's used car showroom ecosystem, has secured $25 million in a Series A extension to accelerate market expansion and modernize the automotive industry.

• Series A Extension: Raised $25M, led by Openspace Ventures, with support from AC Ventures, Quona Capital, and others.

• Industry Challenges: CEO Pandu Adi Laras emphasizes outdated financing and limited digital integration as key issues for dealers and consumers.

• BLC Success: Broom Leasing Channeling generated $17M in revenue with 2,300 transactions, capturing 25% of the market in just six months.

• Focus on Talent: The company is building a strong team to support sustainable growth and drive innovation.

Broom is set to lead Indonesia's automotive industry toward digital transformation, empowering dealers with cutting-edge solutions and driving market expansion.