Emtek, Greater Honor International and Sime Darby supplied a total of $27m for the automotive e-commerce marketplace's latest round.
Singapore-based used car marketplace Carro has raised $100m from investors including conglomerate Sime Darby, shipping firm Greater Honor International and media group Emtek, DealStreetAsia reported yesterday.
Singaporean state-owned investment firm Temasek and fund manager Permodalan Nasional Berhad co-led the round – investing $30m and $25m respectively, according to DealStreetAsia – and were joined by financial services firms Shinhan Financial Group ($10m) and Mirae Asset Financial Group ($5m).
Greater Honor, Emtek and Sime Darby subsidiary Sime Singapore invested $12m, $10m and $5m respectively, while hedge fund manager Rohdea Master Fund supplied $3m.
Carro operates an online platform that lets users buy, sell or rent used cars, also offering related services such as insurance, breakdown coverage and financing options.
The company received $360m in June this year in a series C round led by internet and telecommunications group Softbank’s Vision Fund 2 at a valuation of at least $1bn. Insurance group…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
