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Indonesia's micro SMEs fertile ground to grow new generation of unicorns

5 new unicorn firms emerge in 2021, the most Indonesia has seen in any year and 2022 may see another record-breaking number of unicorns

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Jakarta

SECOND-HAND car dealerships may seem like a 20th-century business, but Indonesian fintech startup Broom is banking on using technology to give the sector a new lease of life.

The fintech startup links second-hand car dealers with financing partners by connecting them to banks on its platform.

Most of these dealers are considered small and medium sized enterprises (SMEs) and often face high financing costs.

"Through our various services, Broom intends to support secondhand car dealers in expanding their businesses," said Pandu Adi Laras, the founder and chief executive officer of Broom. "Endorsements from various stakeholders have also given us that extra confidence to embark on our mission...

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