USED car marketplace Carro has raised US$360 million in Series C funding led by SoftBank Vision Fund 2, which the company says gives it a valuation of more than US$1 billion.

This is more than three times the startup's valuation from February last year, when it was valued at US$289.1 million after investments from Mitsubishi and MS&AD Ventures, data platform VentureCap Insights showed.

EV Growth and other prominent Indonesia-based funds also participated in the Series C round.