Carsome raises US$290m Series E round from Temasek-backed 65 Equity Partners and Seatown
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CAR e-commerce platform Carsome has raised US$290 million in its Series E round at a post-money valuation of US$1.7 billion.
The latest funding round was led by Qatar Investment Authority as well as Temasek-backed investors 65 Equity Partners (65EP) and Seatown Private Capital Master Fund. 65EP is a Temasek unit that is managing the Anchor Fund, a S$1.5 billion co-investment fund by Temasek and the Singapore government to catalyse listings on the Singapore Exchange.
Other investors include Malaysian conglomerates, Sunway and YTL Group, as well as Filipino conglomerate Gokongwei Group.
This funding round comes as speculation arose over a possible US$200 million pre-IPO round in September 2021.
The funds will be used in investing across Carsome's business, from talent to product to technology. Its retail brand Carsome Certified will also see expansion with the proceeds across key markets in Malaysia, Indonesia and Thailand.
Read more:
- Malaysia's Carsome seeking US$200m in pre-IPO funding round: sources
- Carsome guns for US IPO after raising US$170m funding at US$1.3b valuation
- Carro and Carsome: Valuations run fast and furious, but true test lies in fintech
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