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Tech in Asia: ‘Alibaba of cars’ becomes next Singapore unicorn after SoftBank-led $360m injection

This story was first published on Tech in Asia written by Miguel Cordon.

Southeast Asia’s Carro has raced past the US$1 billion valuation mark after raising US$360 million in a series C round led by SoftBank Vision Fund 2, the giant venture capital fund of Japan’s SoftBank Group.

In a statement, Carro said it closed its financial year ending (FYE) March 2021 with over 2.5x growth in annual revenue.

Founded in 2015, Carro provides services for all aspects of car ownership, from buying and selling to financing solutions to after-sales services. Its group of companies includes financial services unit Genie, Malaysia-based car bidding platform myTukar, and consumer-to-consumer marketplace Jualo.

Read the full story on Tech in Asia here.

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