Carmudi, an online car classified startup, raised about $10m in funding.
A range of investors including Tengelmann Ventures, participated in the round.
The company intends to use the funds to expand its Asian operations.
Launched in 2013 by Stefan Haubold, Global Managing Director, Carmudi is an online car classified listings platform that currently operates in 11 countries, including six in Asia (Bangladesh, Indonesia, Myanmar, Pakistan, Philippines and Vietnam). The platform provides an innovative online solution for sellers, buyers and car dealers to find or sell their cars, motorcycles or commercial vehicles online.
The company, which is part of the portfolio of Rocket Internet, the German start-up incubator, revealed that it is growing at a rate of 200% per month, soon reaching 100,000 car listings globally.