Carmudi, a car classified site for emerging markets, raised $25m in funding.
Backers included Asia Pacific Internet Group (APACIG), a joint venture of Rocket Internet and Ooredoo, Holtzbrinck Ventures, a consumer internet investor, Tengelmann Ventures, a division of international multi-sector retailer Tengelmann Group, and a private investor.
The company intends to use the funds to strengthen its operations in Asia and Latin America, with the goal to become the No.1 car classified platform in their markets.
Launched in October 2013 by Global Managing Director Stefan Haubold, Carmudi operates a platform to buy and sell cars, motorcycles and commercial vehicles online.
It is currently available in Bangladesh, Cameroon, Congo, Ghana, Indonesia, Ivory Coast, Mexico, Myanmar, Nigeria, Pakistan, Philippines, Qatar, Rwanda, Saudi Arabia,Senegal, Sri Lanka, Tanzania, United Arab Emirates, Vietnam and Zambia.
The vehicle marketplace offers buyers, sellers and car dealers the ideal platform to find cars, motorcycles and commercial vehicles online.