Malaysia's Carsome used car selling platform raises $30 million in a Series D round.

Carsome has gone beyond just a used car selling platform to an end-to-end platform providing a multitude of services.


Alfred Lee

8 Dec, 2020

Malaysia's Carsome used car selling platform raises $30 million in a Series D round. | BEAMSTART News

- From our Sponsors -

Carsome, the Malaysian company best known for providing a platform for people to buy and sell used cars, has raised $30 million in a Series D funding round.

The round was led by Asia Partners, with participation from existing investors Ondine Capital and Burda Principal Investments.

One of Carsome's outlets in Malaysia.

Founded in 2015, Carsome has evolved from an online used car marketplace to an end-to-end solutions platform for consumers and used car dealers.

The company provides a wide range of services ranging from car inspection, to ownership, and even financing.

Aside from Malaysia, Carsome has operations across Indonesia, Thailand, and Singapore, with over 1000 employees in total

The firm claims it currently transacts over $600 million in transaction value yearly, and has achieved operational profitability since October.

The Carsome leadership team.

With the fresh funds, Carsome plans to strengthen their offerings for both consumers and businesses.

The company also plans to make strategic acquisitions to consolidate their supply chain and grow their ancillary revenues.

 “Over the past six months, we have doubled our monthly revenue compared to pre-pandemic levels, a dramatic acceleration due to the impact of the ongoing COVID-19 pandemic on consumer behaviour across our region. Consumers across our core markets of Malaysia, Indonesia, Thailand, and Singapore are increasingly purchasing cars to keep their families safe and adapt their businesses,” mentions Eric Cheng, CEO of Carsome.

- From our Sponsors -

Latest Jobs

Senior Product Manager

Vahan

Bengaluru, India, United States

Full Time

USD 2500000 — USD 4500000 yearly

Revenue Director (Go-to-market areas)

Pulppo

Mexico City, Mexico, United States

Full Time

USD 50000 — USD 80000 yearly

🤝🏼 Talent Lead

Replo

San Francisco, United States

Full Time

USD 100000 — USD 130000 yearly

People Partner Intern

Finku

Jakarta, Indonesia, United States

Internship

Salary Undisclosed

Full Stack Engineer

kapa.ai

United States

Full Time

USD 80000 — USD 119998 yearly

JavaScript Automation Intern

HiOperator

San Francisco, United States

Internship

USD 17 — USD 25 yearly

Supplier Quality Engineer, Energy Storage

Moxion Power Co.

Richmond, CA, United States

Full Time

Salary Undisclosed

Senior Product Designer, Graphing

BioRender

Toronto, Canada, United States

Full Time

USD 130 — USD 240 yearly

Snr. Software Engineer (Backend)

SkyLink

New York, United States

Full Time

USD 125000 — USD 155000 yearly

QA Engineer - Intern

Peakflo

Singapore, Singapore, United States

Internship

USD 360000 — USD 600000 yearly

Alfred Lee

Journalist at BEAMSTART. I write about breaking business news in the region.

Based in Malaysia

Work Experience Not Specified

Education Not Specified

beamstart.com

Also Mentioned

Carsome

Smarter, easier way to car buying & selling. Sell your used car with us within 30 mins & compare upfront exslusive offers from our Certified Dealers when buying new car to get the best deal.


Asia Partners

Investments in technology-enabled companies that are transforming Southeast Asia's economy.


Burda Principal Investments

Burda Principal Investments is the growth capital arm of Hubert Burda Media, providing capital and strategic support for growth companies.

More Related Stories

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

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).