Carsom raises $ 290 million to feed the E-Series expansion – Wired PR Lifestyle Story
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Carsome’s integrated Southeast Asian car e-commerce platform today (January 10) raised $ 290 million today (January 10) in the Series E round.
This raises the company’s valuation to approximately $ 1.7 billion when it raised more than $ 1.3 billion in September 2021, when it raised $ 200 million in the D2 series round.
The final round of financing was co-led by the Qatar Investment Authority, 65 Equity Partners (65EP) and the Seatown Private Capital Master Fund. Temas is backed by Holdings 65EP and Seatown.
Other participating investors include Mediate, Sunway, Gokongwei Group, YTL Group and Taiwan Mobile.
According to the company, the funding will be “used to accelerate the regional expansion of its retail brand in People, Product, Technology, Data Capability, Infrastructure, and Carsome Certified in key markets in Malaysia, Indonesia and Thailand.”
Founded in 2015, the electronic used car market is called the first technological unicorn based in Malaysia after the purchase of iCar Asia in July 2021.
Singapore-based Carro has also surpassed the $ 1 billion mark and both are racing to become the first market for used cars in the region to be marketed in the United States.
According to sources, Carsome is looking at the U.S. public listing this year through a special purpose purchasing company (SPAC) or a regular IPO.
Featured Image Credit: Carsome
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