Start@SG :Carousell raises $47m for expansion

Carousell raises $47m for expansion

E-commerce start-up Carousell has secured US$35 million (S$47 million) in funding to drive its international expansion.

The additional capital will accelerate Carousell's growth into new markets worldwide and bolster its product and engineering team, the company said.

Carousell is a mobile marketplace app that lets users easily list, sell and buy new and second-hand items.

Its latest funding round was led by Rakuten Ventures, together with Sequoia India, Golden Gate Ventures and 500 Startups.

The app is in use in 13 major cities, and recently completed its official launch in Hong Kong.

Search for promising insurance tech firms

Insurer NTUC Income has started an accelerator programme to search for promising start-ups in the insurance tech sector.

The programme was launched on Monday in partnership with Infocomm Investments, the investment arm of the Infocomm Development Authority.

It aims to shortlist 12 start-ups from around the world with the potential to disrupt the insurance industry, NTUC Income said. These include start-ups working on solutions that will help enhance claims processing and combat fraudulent claims, and robo-adviser services.

Entrepreneurs selected will get a $28,000 grant - not tied to a stake in the firm - as well as mentorship by specialists. Applications will close on Oct 9.

Pitching platform for job-seekers

Job-seekers keen on working at Uber, Spotify, Netflix or Chope will soon have a chance to pitch themselves to these firms and possibly get hired.

Recruiting event Pitch Perfect, to be held on Aug 18, will give 15 selected job-seekers three minutes each to pitch to a panel of recruiters from these firms.

Organised by online recruitment platform Venn, the event aims to give millennial job-seekers a chance to "showcase their personality and talents, most of which don't come across on a resume", said Venn founder Candice Aw.

This is likely to be the first in a series of similar events - the next session is expected to involve firms such as Carousell, Zalora and RedMart.

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Chia Yan Min

A version of this article appeared in the print edition of The Straits Times on August 04, 2016, with the headline 'Start@SG'. Subscribe