This article first appeared on Tech in Asia, written by Miguel Cordon.
Singapore-based car marketplace Carro said it has secured S$150 million (US$110.5 million) in debt financing facilities as well as additional equity, backed by investors such as Mitsubishi Corporation and MS&AD Ventures.
The development comes as the company hit a record high in monthly revenues, claiming to achieve over 500% year-on-year revenue growth in September. Carro also said in a statement that it’s on track to reach S$1 billion (US$736.7 million) in revenue in two years.
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