Carsome now valued at $1.7 billion after raising another $290 million in funding

Carsome currently sells over 100,000 vehicles a year.

Carl Adrian

10 Jan, 2022

Carsome now valued at $1.7 billion after raising another $290 million in funding | BEAMSTART News

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Carsome, one of Malaysia's most popular used car marketplace startups, has just raised $290 million in a Series E funding round.

The new round pushes the company's valuation to around $1.7 billion, according to a report.

Carsome's Investment Details

  • Carsome's funding round was led by 65 Equity Partners, SeaTown Holdings, and Qatar Investment Authority.
  • The company recently raised $170 million back in September 2021 from Asia Partners, Gobi Partners, and 500 Southeast Asia.
  • It's valuation back in September was around $1.3 billion.

What's next for Carsome

  • With the fresh funds, the company plans to invest further into hiring, technology development, and data-related capabilities.
  • The company will also be expanding its retail brand "Carsome Certified" across more Southeast Asian markets, most notably Malaysia, Indonesia, and Thailand.
  • At present, the company sells nearly 100,000 vehicles annually.
  • Carsome plans to go public in the later part of 2022, either via a traditional IPO or SPAC.

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