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South-East Asia’s largest automotive marketplace
Carro is the newest Unicorn in the region. A full-stack service for all aspects of car ownership, Carro has raised USD $360 million in a Series C funding round led by SoftBank Vision Fund. Indonesian fund EV Growth and insurance firm MSIG. Before this, Carro had raised about USD $90 million in August 2019.
Founded in 2015, the online marketplace for buying and selling cars has become the first Unicorn in the segment.
“…As digitalization shapes the global landscape through new consumer habits and business practices, it is a very exciting time for an end-to-end online car marketplace like Carro,” said
Automotive marketplace Carro hits unicorn status with $360M Series C led by SoftBank Vision Fund 2 – TechCrunch – Bestgamingpro bestgamingpro.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bestgamingpro.com Daily Mail and Mail on Sunday newspapers.
Automotive marketplace Carro hits unicorn status with $360M Series C led by SoftBank Vision Fund 2
Carro, one of the largest automotive marketplaces in Southeast Asia, announced it has hit unicorn valuation after raising a $360 million Series C led by SoftBank Vision Fund 2. Other participants include insurance giant MSIG and Indonesian-based funds like EV Growth. About 90% of vehicles sold through Carro are secondhand, and it offers services that cover the entire lifecycle of a car, from maintenance to when it is broken down and recycled for parts.
Founded in 2015, Carro started as an online marketplace for cars, before expanding into more verticals. Co-founder and chief executive officer Aaron Tan told TechCrunch that, roughly speaking, the company’s operations are divided into three sections: wholesale, retail and fintech. Its wholesale business works with car dealers who want to purchase inventory, while its retail side sells to consumers. Its fintech operation offers product
Automotive marketplace Carro hits unicorn status with $360M Series C led by SoftBank Vision Fund 2 yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.