Southeast Asia’s largest integrated car e-commerce platform Carsome Group (Carsome), today announced the completion of its US$290 million Series E round, increasing the company’s valuation to approximately US$1.7 billion. This new financing further solidifies Carsome’s position as the leading integrated e-commerce auto platform in Southeast Asia.
The latest financing round was jointly led by Qatar Investment Authority (“QIA”), 65 Equity Partners (“65EP”) and Seatown Private Capital Master Fund (“Seatown”). The round also saw strong participation from investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile.
Carsome plans to use the proceeds raised in this round of financing to accelerate investment in people, product, technology, data capability, infrastructure, and regional expansion of its retail brand, Carsome Certified, across key markets in Malaysia, Indonesia and Thailand.