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MariaSharpie

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Carousell banks $85m funding from DBS and others
« on: May 14, 2018, 05:17:31 pm »
Carousell has finally revealed that it has closed its series C funding round, following months of speculation and reports that the startup refused to confirm.

The C2C marketplace said today it has raised US$85 million in a round co-led by existing shareholder Rakuten Ventures and first-time investor EDBI – the investment arm of Singapore’s Economic Development Board.

Tech in Asia revealed in January that EDBI had become a Carousell shareholder, with the startup raising at least US$45 million in funding last year.

Singaporean bank DBS also came on board as a new investor, the startup said today. Previous backers 500 Startups, Golden Gate Ventures, and Sequoia Capital’s India fund returned for the series C raise.

A Carousell statement said that the company’s marketplace has quadrupled in volume since its August 2016 series B round. Fifty million items have been sold through the platform, which has hosted over 144 million listings.

More at https://www.prolificskins.com/forum/current-affairs/carousell-banks-85m-funding-from-dbs-and-others

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