iMotorbike, a Kuala Lumpur-based online marketplace for used motorcycles, successfully raised $2.6 million in Series A funding, led by Gobi Partners and Ondine Capital, to enhance its operations amid growing demand for two-wheelers in Southeast Asia.

Target Information

iMotorbike, a Kuala Lumpur-based startup, operates as an online marketplace for pre-owned motorcycles. Founded by entrepreneurs Gil Carmo and Sharmeen Looi, the platform was developed to fill a significant gap in the two-wheeler market, allowing users to securely buy and sell used motorcycles. iMotorbike's offerings include a fast, efficient, and safe transaction experience, complemented by a money-back guarantee and warranties for both buyers and sellers.

As Southeast Asia’s first e-commerce platform dedicated to motorcycles, iMotorbike has already facilitated over 2,500 transactions, generating revenues exceeding $3.5 million. The company has raised a cumulative total of RM19.3 million (approximately US$4.2 million) since its inception, including a recent Series A funding round.

Industry Overview in Malaysia

The motorcycle market in Malaysia is currently experiencing notable growth, driven by rising inflation and an increased cost of living, which are pushing more individuals to consider two-wheelers as