Carousell Raises US$85m in Series C Funding

Carousell, a Singapore–based classifieds marketplace, raised US$85m in Series C funding.

The round was co-led by Rakuten Ventures and EDBI, with participation from existing investors 500 Startups, Golden Gate Ventures and Sequoia India, as well as new investor DBS.

The company intends to use the funds to continue building up the team to accelerate development of new features, and AI and machine learning capabilities and deepen its presence in key markets.

Led by Siu Rui Quek, Co-founder and CEO, Carousell is a marketplace app for person-to-person buying and selling on iPhone & Android smartphones. The platform, which features Smart Listings, personalized browsing and chatting experiences, now includes more than 144 million listings and 50 million items sold in categories such as cars, property, jobs, services and finance.



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