Carousell Raises $800K

carousellCarousell, a Singapore-based consumer-to-consumer marketplace app, raised a SGD$1m (approximately USD$800k) in seed funding.

According to TechCrunch, The round was led by Rakuten, with participation from Golden Gate Ventures, 500 Startups, Danny Oei Wirianto and Darius Cheung.

The company intends to use the funds to expand into Indonesia and Malaysia and then in other Southeast Asian countries.

carousell-productsCo-founded by Quek Siu Rui, Marcus Tan Yi Wei and Lucas Ngoo, Carousell is a C2C marketplace app. It allows sellers to list unwanted clothes, gadgets, and accessories by taking a picture and describing it. Buyers can browse and acquire items near home, school or office.
The app is available for both for iOS and Android.
A winner at Startup Weekend Singapore 2012, the company is supported by NUS Enterprise and Action Community for Entrepreneurship (ACE), and received funding through the ACE Start-ups Grant and QuestVC.



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