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Indonesia auto-finance startup Broom lines up new funding

Company provides short-term loans for car dealers

Broom provides financing for auto dealers who offer their used-car inventory as collateral. (Screenshot from Broom website)

JAKARTA -- Indonesian auto-financing startup Broom is finalizing a new funding round of $6 million to $8 million, led by Singapore-based venture capital firm OpenSpace Ventures with an investment of up to $4 million, DealStreetAsia has learned.

A number of existing investors are also participating in the new round, according to three people aware of the development.

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