{"id":8844,"date":"2019-08-13T10:09:36","date_gmt":"2019-08-13T02:09:36","guid":{"rendered":"https:\/\/blog.carro.sg\/?p=8844"},"modified":"2025-11-18T18:57:34","modified_gmt":"2025-11-18T10:57:34","slug":"singaporean-car-marketplace-carro-buys-indonesias-jualo-and-adds-usd-30-million-to-its-series-b-round","status":"publish","type":"post","link":"https:\/\/carro.co\/sg\/blog\/singaporean-car-marketplace-carro-buys-indonesias-jualo-and-adds-usd-30-million-to-its-series-b-round\/","title":{"rendered":"Singaporean car marketplace Carro buys Indonesia\u2019s Jualo and adds USD 30 million to its Series B round"},"content":{"rendered":"This article first appeared on Kr-Asia.com<\/a>, written by Zhixin Tan.\r\n\r\nCarro, a Singapore-based wholesale automotive marketplace, has raised an additional USD 30 million in its ongoing Series B round, the company said in a statement.\r\n\r\nNew investors included companies like SoftBank Ventures Asia, government-linked global investor EDBI, Dietrich Foundation, NCORE Ventures, and Hanwha Asset Management.\r\n\r\nThe fresh funds will be used to accelerate its expansion across Southeast Asia.\r\n\r\nCarro has already used part of the capital to acquire Jualo, an Indonesia-based consumer-to-consumer marketplace platform that attracted\u00a0over 4 million users per month and facilitated over USD 1 billion in transactions in 2018, said Carro.\r\n\r\nJualo\u2019s platform helps private and professional sellers trade new and used goods in over 300 categories including cars, property, fashion, and electronics across all 34 provinces in Indonesia. It also allows users to post job advertisements.\r\n\r\nJualo\u2019s list of investors included venture funds like\u00a0Alpha JWC Ventures, Openspace Ventures, and Kejora Ventures amongst others.\r\n\r\nCarro, on the other hand, is an online marketplace for people to buy and sell used cars. Besides facilitating car transactions, Carro also offers after-sales services that a car owner might need throughout the vehicle\u2019s lifespan such as car care services, roadside recovery services, and warranties.\r\n\r\nToday, Carro operates in\u00a0over 30 cities across Singapore, Thailand, and Indonesia. According to the statement, Carro\u2019s expansion into Thailand and Indonesia in the past year has seen a 100% month-on-month growth in both markets.\r\n\r\nCarro said the acquisition of Jualo.com will further boost the reach of its platform in Southeast Asia.\r\n\r\nIn a separate interview with\u00a0KrASIA<\/em>, Carro\u2019s founder Aaron Tan\u00a0 said that the key to\u00a0successfully expanding aggressively across the region<\/a>\u00a0is to \u201cpartner up with big players instead of competing against them.\u201d\r\n\r\nThe latest investment brings the total amount Carro has raised in its Series B investment round to USD 90 million.\r\n\r\nCarro previously secured\u00a0USD 60 million<\/a>\u00a0from\u00a0Softbank Ventures Korea, Insignia Ventures, B Capital Group, Singtel Innov8, Golden Gate Ventures, and Alpha JWC in the first phase of its Series B round last May.\r\n\r\nCarro in some ways competes with the Naspers-backed OLX, a classifieds site that\u2019s used for property and car listings, among other things. OLX and Naspers footprint in the region also extends to C2C market place Carousell,<\/a>\u00a0which is headquartered in Singapore, and\u00a0used car platform BeliMobilGue in Indonesia<\/a>.\r\n
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This article first appeared on Kr-Asia.com, written by Zhixin Tan. Carro, a Singapore-based wholesale automotive marketplace, has raised an additional USD 30 million in its ongoing Series B round, the company said in a statement. New investors included companies like SoftBank Ventures Asia, government-linked global investor EDBI, Dietrich Foundation, NCORE Ventures, and Hanwha Asset Management. …<\/p>\n","protected":false},"author":2,"featured_media":8827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[727],"tags":[],"class_list":["post-8844","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\/8844","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/comments?post=8844"}],"version-history":[{"count":1,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/8844\/revisions"}],"predecessor-version":[{"id":14578,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/8844\/revisions\/14578"}],"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=8844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/categories?post=8844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/tags?post=8844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}