Newest Singapore unicorn Carro set to grow in South-east Asia

Carro co-founder and chief executive Aaron Tan said the firm believes it has a homegrown advantage in the region.
Carro co-founder and chief executive Aaron Tan said the firm believes it has a homegrown advantage in the region.PHOTO: CARRO

SINGAPORE - Used car marketplace start-up Carro - the latest local start-up to join the billion-dollar club - is looking to deepen its presence in South-east Asia.

The Singapore-headquartered firm has just raised US$360 million (S$484.4 million) in its Series C funding round, which it said puts its valuation at over US$1 billion. The round was led by SoftBank Vision Fund 2, and included insurer MSIG and Indonesia-based funds like EV Growth.

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