According to a statement on Friday, Moladin, an Indonesia-based marketplace for used cars and motorbikes, has laid off 11% of its total workforce, or 360 employees.
Hafif Assaf, Chief of Government Relations and Public Affairs at Moladin, stated that the layoffs will support the company’s sustainability effort and all impacted staff will be compensated accordingly.
According to regulatory filings, the layoffs come less than a year after the company raised 95 million in a series B round in April 2022, with DST Global leading the round and participation from East Venture and Sequoia Capital India.
