SITENAME Logo

Malaysia's car sharing startup Moovby eyes regional expansion after raising US$500k.

Allowing anyone to rent their cars across the region.


Malaysia's car sharing startup Moovby eyes regional expansion after raising US$500k.

Malaysian peer-to-peer car sharing platform, Moovby, has secured a new funding of US$500k from investors and strategic partners.

The company began operations in 2017 and has since expanded to Indonesia in 2018.

The funding will be focused on expansion across the region, with Singapore and Thailand in the pipeline.

The Moovby app

Moovby allows anyone to rent cars from private car owners, and car owners to rent out their unused cars for payment.

Owners set their rental prices and earn a 75% commission from their rental revenue.

Moovby is currently available in all major cities in Malaysia and select cities in Indonesia today, with over 3000 vehicles listed on the platform.

The Moovby Team

To date, Moovby has raised US$660k in funding, including initial grants from Cradle Fund and TERAJU from Malaysia.

The company has also formed strategic partnerships with Indonesia's Traveloka to support bookings across Jakarta, Bandung, Bali, Surabaya, and other cities of Indonesia.

"This capital accelerates our ability to build upon partnerships and increase marketing efforts, further strengthening our ability to enable as many people as possible to share their cars," founder and chief executive officer Nik Muhammad Amin Nik Muhammad Kamil said in a statement today.

This article is free to read for members.

Membership includes the following benefits:

  • Get access to members-only content.
  • Expand your network and exchange messages with other members.
  • Promote your company, post up jobs, find customers, and raise funds.
  • Receive special invitations to upcoming events and community activities.
  • and lots more!

ALSO MENTIONED IN THIS POST

Moovby

Peer-to-peer car-sharing marketplace

Industry:


Have a company of your own? Create a company profile today and easily find customers, raise funds, or hire talent.

ABOUT KENNETH HO

Founder & CEO @ BEAMSTART

Get in Touch

Location

Singapore

BEAMSTART is a global business community with the aim of connecting people to opportunities. Expand your network, discover new possibilities, and explore a vast database of resources that can help you go further in your business and career.

 

Download the App

Never miss an opportunity again. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved (Legal).