Carro, a Singapore-based auto classifieds marketplace, raised $12m in funding.
The round was led by undisclosed investors, with participation from existing backers Venturra Capital, Singtel Innov8, Golden Gate Ventures, Alpha JWC Ventures, Skystar Capital and GMO.
The company intends to use the funds to continue to expand operations across Thailand and Indonesia and other Asian countries.
Founded in late 2015 by CEO Aaron Tan, Carro provides a direct consumer to consumer mobile automobile marketplace which offers car transfer, loan and insurance processes. The service is active in Singapore with finance coming soon in Thailand and Indonesia.