Carro drives through $360m series C round

Jun 15, 2021 • Edison Fu

SoftBank Vision Fund 2 and MSIG are among the investors that have backed the used car marketplace’s latest round, valuing it at more than $1bn post-money.

Singapore-based automotive e-commerce platform Carro received S$477m ($360m) today in a series C round led by internet and telecommunications group SoftBank’s Vision Fund 2.

Insurance group MSIG also took part in the round according to TechCrunch, as did Indonesia-based funds including EV Growth, the venture capital partnership formed by conglomerate Sinar Mas, internet company Yahoo Japan and VC firm East Ventures. It valued the company at a minimum of $1bn.

Founded in 2015, Carro operates a second-hand vehicle marketplace that…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.

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