Carsome announces most successful quarter with over US$310mil revenue in 2Q2024, new financing line from Maybank

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Carsome announces most successful quarter with over US$310mil revenue in 2Q2024, new financing line from Maybank - Digital News Asia

Quick Summary:

In line with the strong results, Carsome announced various new ﬁnancing partnerships, such as with Ambank Group (announced in July) and Maybank (not officially announced yet), which will provide over US$46.17 million (RM200 million) in new working capital lines to support Carsome’s expansion plans.

Revenue grew 9% QoQ with over 3x EBITDA jump, GPU up by over 5%

Push ancillary biz, especially Carsome Capital with working capital lines from banks CARSOME Group Inc, Southeast Asia’s largest integrated car e-commerce platform, took another big step towards its much talked about eventual IPO by announcing its most successful quarter to date.