Carousell, a Singapore-based mobile classifieds app, raised $35m in Series B funding.
The round was led by Rakuten Ventures with participation from Sequoia India, Golden Gate Ventures and 500 Startups.
The company intends to use the funds to accelerate growth into new markets and bolster its product and engineering teams.
Led by Siu Rui Quek, Co-founder and CEO, Carousell operates a mobile classifieds marketplace that allows anyone with a smartphone to buy and sell online currently serving 13 major cities. Beginning with a focus on preloved fashion, the classifieds marketplace has grown to include cars, motorbikes, and luxury goods. The app is available for iOS or Android.