Carsome buys stake in Indonesian used car platform PT Universal Collection

Carsome is once again expanding its reach! The e-commerce platform has acquired an equity stake in Indonesian company PT Universal Collection (PT UC). The acquisition is Carsome’s first investment in Southeast Asia in 2021. 

PT UC is Indonesia’s leading offline car and motorcycle auction house based in Jakarta. The company transacted 30,000 vehicles in FY2020. Other than Jakarta, PT UC also has a presence in South Tangerang, Bandung, Yogyakarta, and Malang.

Carsome hopes that the investment would double the e-commerce business’ automotive transaction volumes in Indonesia.

Not only will the e-commerce platform be able to fulfil its goal to build a regional, end-to-end integrated online used car ecosystem for dealers and consumers, Carsome’s dealer partners will also have access to more inventory diversity and broader options through PT UC.

Also read: We want people to look forward to buying a used car, says Carsome CEO

Meanwhile, PT UC’s suppliers will benefit from the wider demand pool through Carsome’s online platform.

Country Head of Carsome Indonesia, Delly Nugraha, will now take on the role of President Director of PT UC.

Commenting on the deal, he said: “We are really excited to invest into PT Universal Collection. This investment serves as a strategic move for Carsome to open up more opportunities and networks, and to significantly expand our operations in Indonesia, a key Southeast Asia market for Carsome.

“Through PT UC’s access to used car supplies in the market, Carsome’s dealer partners will enjoy more inventory diversity and broader options. PT UC’s suppliers, on the other hand, will be opened to a wider demand pool, broadening their accessibility in the used car market.”

The investment into PT UC proves to be timely as Carsome is expanding its business in Southeast Asia. The e-commerce business is also looking to become Malaysia’s first unicorn as it weighs going public in the US.

The Kuala Lumpur-based business is currently conducting a pre-IPO funding round that aims to raise about USD 150 million.

Also read: Carsome set to be Malaysia's first unicorn with a USD 2b valuation