Carsome Secures $19M in Series B Funding

Carsome, a Kuala Lumpur, Malaysia-based online used car platform, raised US$19m in Series B funding.

The round was led by Burda Principal Investments with participation from existing backers Gobi Partners, InnoVen Capital and Lumia Capital.

The company intends to use the funds to scale and deepen its presence in Indonesia and Thailand.

Led by Eric Cheng, Co-Founder and CEO, Carsome is an online used car platforms, which, through its online bidding portal, allows customers to sell their vehicles directly to dealers nationwide. The company facilitates the entire carselling process from inspection, to valuation, bidding and payment as well as logistics needs.
Headquartered in Malaysia, the company has since expanded to Indonesia, Thailand and Singapore and has more than 2,500 registered dealers on its platform.

Since its inception in 2015, Carsome has registered more than 200,000 bids for cars.



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