Malaysian unicorn startup Carsome raised $290 million in a Series E funding round, valuing the used-car online marketplace at $1.7 billion.
’s Malaysian infrastructure conglomerate YTL Group. Telecom company Taiwan Mobile also participated in the funding round.
Carsome plans to use the funding to expand its product, technology and infrastructure in Malaysia, Indonesia and Thailand. The startup also plans to expand Carsome Certified, its business-to-consumer arm. In July, Carsome said it was considering going public in the U.S. by merging with a SPAC. Founded in 2015, Carsome is one of Southeast Asia’s largest used car e-commerce platforms, alongside Carro and Carousell. The platform helps with inspections, ownership transfer and finances between consumers and used car dealers, handling around 100,000 car transactions annually, according to Carsome.in a funding round that included Catcha Group, MediaTek and Malaysian government fund Penjana Kapital.
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