Malaysia’s Carsome closed a $50 million funding round— set to expand its market reach in Southeast Asia

It aims to be the Visa of auto transaction with its used-car sales platform.


Syamil Faisal

11 Dec, 2019

Malaysia’s Carsome closed a $50 million funding round— set to expand its market reach in Southeast Asia | BEAMSTART News

- From our Sponsors -

The Malaysia-based used-car marketplace, Carsome secured $50 million from its Series C funding round joined by MUFG Innovation Partners (MUIP), Daiwa PI Partners, Endeavor Catalyst, and Ondine Capital.

Its existing investors like Gobi Partners and Convergence Ventures also participated in the funding round — stacking its total capital raised to $85 million to date.

Carsome sets to face competition with the other used car marketplace in Southeast Asia such as Carro in Singapore, BeliMobilGue in Indonesia, and Carmudi — as it will use the fresh fund to expand into more markets in the region like the Philippines.

As the largest car trading platform in the region, Carsome operates in Malaysia, Indonesia, and Thailand — seeing a $300 million worth of cars traded on the platform.

“[Carsome envision to be] …the Visa/Master network of auto transactions, and build a collaborative ecosystem of partners to provide the best experience to consumers in Southeast Asia,” Eric Cheng, co-founder and chief executive of Carsome said in a statement.

- From our Sponsors -

Latest Jobs

Senior Analyst, Product

Carsome

Petaling Jaya, Singapore

Full Time

Salary Undisclosed

Strategy and Growth Lead

Pluang

Jakarta, Indonesia

Full Time

Salary Undisclosed

3D Creative Designer

Nervape

Singapore , Singapore

Full Time

USD 4000 — USD 7000 monthly

Business Development Manager

Tourplus

Kuala Lumpur, Malaysia

Full Time

MYR 10000 — MYR 30000 monthly

Business Development Intern

BEAMSTART

Damansara Uptown, Malaysia

Internship

MYR 400 — MYR 500 monthly

HR Consultant/Recruiter

Fortune Cookie Wisdom Pte Ltd

Remote, Singapore

Contract / Freelance

Salary Undisclosed

Business Development Manager

Lumirous

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

Online English Teacher

NativeCamp

Remote, United Kingdom

Contract / Freelance

Salary Undisclosed

UI/UX Designer

Soft Space

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

Finance Associate, OTC

Grab

Petaling Jaya, Malaysia

Full Time

MYR 4000 — MYR 8000 monthly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).