The Business Times: Carro raises S$150m debt facilities, funding from Mitsubishi, MS&AD this year

This article first appeared on The Business Times, written by Sharanya Pillai.

USED car marketplace Carro had raised close to US$150 million in debt financing facilities, as well as fresh equity from new investors Mitsubishi Corp and MS&AD Ventures this year, the startup announced on Wednesday.

According to regulatory data on intelligence platform VentureCap Insights, Carro had raised US$6 million from Mitsubishi and MS&AD Ventures, the venture arm of MS&AD Insurance Group Holdings, in July. Its post-money valuation stood at US$289.1 million.

In its Wednesday press statement, Carro did not specify the amount raised in the equity round. However, the five-year-old startup added that it has obtained debt financing facilities of close to S$150 million, that puts it in a “strong cash and liquidity position”.

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