{"id":8826,"date":"2019-08-06T10:11:24","date_gmt":"2019-08-06T02:11:24","guid":{"rendered":"https:\/\/blog.carro.sg\/?p=8826"},"modified":"2025-11-18T18:57:34","modified_gmt":"2025-11-18T10:57:34","slug":"deal-street-asia-sgs-carro-raises-total-90m-in-series-b-funding-acquires-indonesias-jualo-com","status":"publish","type":"post","link":"https:\/\/carro.co\/sg\/blog\/deal-street-asia-sgs-carro-raises-total-90m-in-series-b-funding-acquires-indonesias-jualo-com\/","title":{"rendered":"Deal Street Asia: SG\u2019s Carro raises total $90m in Series B funding, acquires Indonesia\u2019s Jualo.com"},"content":{"rendered":"<strong>This article first appeared on <a href=\"https:\/\/www.dealstreetasia.com\/stories\/carro-series-b-funding-jualo-com-147778\/\" rel=\"nofollow noopener\" target=\"_blank\">Deal Street Asia<\/a>, written by Kristie Neo.<\/strong>\r\n\r\nCarro, a Singapore-based automotive marketplace, has raised a total of $90 million in a Series B funding round from SoftBank Ventures Asia, EDBI and other investors.\r\n\r\nAccording to a statement, Carro raised an additional $30 million for the oversubscribed round after securing $60 million in May last year. The $30-million was contributed by SoftBank Ventures Asia, EDBI, Dietrich Foundation and NCORE Ventures.\r\n\r\nThe other investors from its previous $60 million tranche include Hanwha Asset Management, Insignia Ventures, B Capital Group, Singtel Innov8, Golden Gate Ventures and Alpha JWC.\r\n\r\nThe announcement confirms <a href=\"https:\/\/www.dealstreetasia.com\/stories\/carro-extended-seriesb-126115\/\" rel=\"nofollow noopener\" target=\"_blank\">an earlier report by DealStreetAsia<\/a>.\r\n\r\nCarro added that the fresh capital will be used to acquire Jualo.com, a C2C marketplace platform in Indonesia. Jualo helps users trade new and used goods in over 300 categories ranging from cars, motorcycles, property, fashion, electronics; it also posts job adverts.\r\n\r\nAccording to the startup, it has over 4 million users a month and facilitates transactions worth over $1 billion in 2018. Its goods are traded across all 34 of Indonesia\u2019s provinces.\r\n\r\nAaron Tan, the CEO and Founder of Carro said: \u201cOur acquisition of Jualo.com will further boost the reach of our proprietary technology platform in Southeast Asia, especially as Indonesia is the region\u2019s largest automotive market.\u201d\r\n\r\nFounded in 2015, Carro describes itself as a full-stack automotive marketplace. It offers a range of services including buying and selling, financing, subscription, insurance, workshop and roadside assistance for cars.\r\n\r\nCarro is currently present in over 30 cities across Singapore, Indonesia and Thailand. The company considers itself to be region\u2019s largest automotive marketplace \u2013 having transacted over $500 million worth of cars in 2018.\r\n\r\nCarro competes with a number of players regionally. These include Rocket Internet-backed Carmudi, BeliMobilGue in Indonesia, as well as Carsome and iCar Asia from Malaysia.\r\n\r\nMalaysia\u2019s Carsome has raised $27.4 million, while Catcha-backed iCar Asia has gathered $39.1 million, according to Crunchbase.\r\n\r\nIn Indonesia, BeliMobilGue raised a total of $13.7 million from names like Intudo Ventures and Toyota Tunas. Rocket-Internet-backed Carmudi, which pared its global presence to focus on Asia, has raised $45 million so far. It last raised $10 million in a Series C round in 2017.\r\n<pre>People also liked:\r\n\r\n<a href=\"https:\/\/carro.sg\/blog\/why-shouldnt-own-car-singapore\/\" target=\"_blank\" rel=\"noopener\">WHY YOU SHOULDN\u2019T OWN A CAR IN SINGAPORE<\/a>\r\n<a href=\"https:\/\/carro.sg\/blog\/the-best-petrol-credit-cards-to-save-more\/\" target=\"_blank\" rel=\"noopener\">THE BEST PETROL CREDIT CARDS TO SAVE MORE<\/a>\r\n<a href=\"https:\/\/carro.sg\/blog\/4-ways-car-subscription-better-than-car-ownership\/\" target=\"_blank\" rel=\"noopener\">4 WAYS CAR SUBSCRIPTION IS BETTER THAN CAR OWNERSHIP<\/a>\r\n\r\n<\/pre>","protected":false},"excerpt":{"rendered":"<p>This article first appeared on Deal Street Asia, written by Kristie Neo. Carro, a Singapore-based automotive marketplace, has raised a total of $90 million in a Series B funding round from SoftBank Ventures Asia, EDBI and other investors. According to a statement, Carro raised an additional $30 million for the oversubscribed round after securing $60 &hellip;<\/p>\n","protected":false},"author":44,"featured_media":8827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[727],"tags":[],"class_list":["post-8826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-announcements"],"_links":{"self":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/8826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/comments?post=8826"}],"version-history":[{"count":1,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/8826\/revisions"}],"predecessor-version":[{"id":14615,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/8826\/revisions\/14615"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media\/8827"}],"wp:attachment":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media?parent=8826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/categories?post=8826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/tags?post=8826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}