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Malaysia's Carsome raises 170 million USD in the latest funding round

Southeast Asian used-car marketplace Carsome Group said it has raised 170 million USD in a funding round from investors, including China's Taiwanese chipmaker MediaTek, cementing its position as Malaysia’s largest tech unicorn, valued at 1.3 billion USD.
Malaysia's Carsome raises 170 million USD in the latest funding round ảnh 1Illustrative image (Photo: TheStar)
Kuala Lumpur (VNA) - Southeast Asian used-carmarketplace Carsome Group said it has raised 170 million USD in a funding roundfrom investors, including China's Taiwanese chipmaker MediaTek, cementing its positionas Malaysia’s largest tech unicorn, valued at 1.3 billion USD.

The valuation comes as Southeast Asian startups are attracting stronginterest from regional and global funds, driven by robust growth rates, asinvestors take bets on post-pandemic plays here.

Co-founder and chief executive, Eric Cheng said Carsome, which also operates in Indonesia, Thailand andSingapore, has been ramping up its retail centres and expanding its offerings,which include a five-day refund policy and a one-year warranty.

Carsome is looking to almost treble its revenue to nearly 1 billion USDthis year from last year and expects to turn profitable on an operating levelin 2022, its chief financial officer Juliet Zhu said.

It had raised a total of more than 100 million USD in its previous fundingrounds.

Zhu said Carsome is considering listing in theUS within the next 12 months and is in talks with sponsors of blankcheck companies./.
VNA
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