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Carousell ties up with Sequoia India, secures US$6m Series A funding

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MOBILE marketplace Carousell on Thursday announced it has partnered with Sequoia India and secured US$6 million in Series A funding.

MOBILE marketplace Carousell on Thursday announced it has partnered with Sequoia India and secured US$6 million in Series A funding.

Sequoia Capital's investment had been made from the recent Sequoia Capital India IV fund. The US$530 million fund was raised in April 2014.

Its existing investors - Rakuten Ventures, Golden Gate Ventures, 500 Startups and serial entrepreneur Darius Cheung - also participated in this round of funding.

Carousell said the funding will be used to accelerate international expansion to countries such as Malaysia, Indonesia and Taiwan.

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The lifestyle marketplace app's top priority is to grow its engineering, product and community teams to speed up improvements to benefit its community with features that make buying and selling even simpler and safer.

Quek Siu Rui, one of the three co-founders, said the company is on a mission to make online buying and selling easy.

"If you know how to snap a photo or send a text message using a smartphone, you essentially know how to buy and sell on Carousell."

Carousell is a mobile-first customer to customer (C2C) marketplace and a mobile app that aims to make online person-to-person buying and selling accessible for the emerging smartphone generation worldwide.

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