Indonesia-based auto fintech startup Moladin has secured $50 million U.S. in debt financing from Lendable.

Founded in 2017, Moladin finances new and used cars, working with more than 10,000 agents and dealers across 150 cities.

According to the company, it has disbursed more than $500 million in auto loans — $300 million to used-car dealers and $250 million to consumers and micro, small and medium enterprises (MSMEs) — since 2023.

“Our partnership with Lendable will help us significantly expand access to financial services and mobility solutions. This goes beyond just buying a vehicle. We are also helping MSMEs grow their business and take advantage of emerging opportunities. By fostering financial inclusion, Moladin is actively contributing to the economic and social mobility of all Indonesians,” said Moladin co-founder and president Andrew K.J. Tan.

“Lendable is proud to partner with Moladin and support their mission-aligned objective of serving underserved MSMEs and consumers in Southeast Asia. Having worked closely with the Moladin team during this transaction, we have been impressed by how Moladin has been able to build a high-quality scalable business that reaches a critical, yet hard-to-serve, segment in Indonesia,” said Hani Ibrahim, chief investment officer at Lendable.

Prior to this deal, Moladin had raised a total of $138 million across five equity funding rounds, according to Crunchbase.

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