iMotorbike, Southeast Asia’s leading motorcycle platform for buying and selling pre-owned motorcycles, today announced the successful completion of a USD$10 million Series A funding round. The round was led by Headline, a global venture capital firm celebrated for backing transformative B2B and B2C ventures, with participation from other prominent venture capitals such as Ondine, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst. The Series A round was completed in two tranches with the first being in June 2023 and the most recent funding led by Headline.
Akihiko Okamoto, Partner at Headline Asia said, “iMotorbike has shown remarkable vision and execution in addressing the gaps in the pre-owned motorcycle market. Their focus on quality, transparency, and customer satisfaction has enabled them to become the leader in this space, which is a growing market. As they prepare to enter new markets and expand their presence across Southeast Asia, we are excited to support their journey and see them continue bringing innovative approaches.”
This funding is instrumental in expanding iMotorbike’s footprint in Malaysia where the company plans to open new inspection centres and showrooms in key locations — including Penang and Johor. With the new funding, the company also aims to grow its workforce by hiring skilled mechanics and operations staff. The expansion plans will also extend outside of Malaysia, with a new branch in Taiwan currently being planned.
“We first invested in iMotorbike in 2017, and remain confident that the used motorcycle market globally will remain resilient as riders seek affordable and reliable solutions amid economic uncertainties. As early movers, we believe Gil and his team have built over the last 8 years a blueprint for trust and convenience in the motorcycle marketplace, putting them in a strong position to lead this mobility trend far beyond Southeast Asia,” shared Khailee Ng, Managing Partner, 500 Global.
Fast growth and expansion
Growth has been accelerating in Malaysia, partially fueled by the launch of the Glenmarie showroom in 2024, which is a three-storey, 46,806-square-foot building in the heart of Selangor. This year, iMotorbike, co-founded by Gil Carmo and Sharmeen Looi, reached a significant milestone of 10,000 customers and is now the defacto go-to platform for motorcycle enthusiasts across Southeast Asia. The brand’s growing online presence, particularly on TikTok, where its content has garnered up to 1.6 million views, has made it increasingly popular among digital-savvy users. By seamlessly bridging online and offline experiences, iMotorbike ensures a smoother trading journey, offering customers a reliable and engaging platform for buying, selling and trading motorcycles.
In addition to Headline’s leadership, iMotorbike has garnered strong support from key investors who have witnessed its growth firsthand. Randolph Hsu, Co-Founder of Ondine Capital said, “As the lead investor in iMotorbike’s previous round of funding, we are proud to support iMotorbike with super pro-rata investment in this new round since we have witnessed their remarkable growth and unwavering commitment to transforming the motorcycle market in Asia. We are confident in their vision, leadership, and ability to deliver value to clients. We foresee iMotorbike further strengthening its presence locally and internationally and Ondine Capital will continue supporting it by bridging resources across Asia.”
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Since its founding in 2016, iMotorbike has built a strong presence in Malaysia and Vietnam by focusing on customer trust and convenience. Key offerings, such as a thorough 170-point inspection process, and a hassle-free 6-day return and 6-month warranty policy, have solidified its reputation as a reliable and customer-focused platform.
Gil Carmo, Co-founder and Chief Executive Officer of iMotorbike continued, “From day one, our goal has always been to create a platform that people can trust, whether buying or selling motorcycles. This funding validates the work we have done and the potential of pre-owned motorcycles in Southeast Asia. With this funding, we are excited to take iMotorbike to the next level. Beyond expanding our footprint in Malaysia and opening in Taiwan, we will continue improving our platform and scaling our operations to meet the growing demand. We are deeply grateful for the trust our investors and customers have placed in us, and we hope that we continue to set new standards within the industry and make pre-owned motorcycles more accessible and hassle-free for everyone.”
Looking ahead to 2025, iMotorbike remains committed to its mission of providing a trusted, seamless platform for motorcycle transactions. With new markets opening and an expanded team in place, the company is poised to continue its impressive growth and solidify its leadership across Southeast Asia and beyond.
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