Singapore Startup Carousell Has Reportedly Raised $70M To $80M Funding

Mobile marketplace startup Carousell has reportedly closed a Series C round of between $70 to $80 million this week, according to TechCrunch‘s anonymous sources. 

Carousell did not confirm this new round, but it instead furnished TechCrunch with this statement:

At Carousell, we are laser-focused on our mission of building a system to inspire everyone in the world to start selling. Since our US$35M Series B funding in August 2016, we’ve expanded rapidly from 35 million listings to now over 95 million listings globally as of September 2017.

 

We are always looking to get in touch with new investors and partners to help us reach our goals. We don’t have updates on funding-related news to share at the moment, but we will be in touch when we have a significant update to share.

As the leader of in the region’s second-hand goods market, this funding will propel its ambition of becoming a powerhouse in online classifieds.

This funding will also give it a competitive edge against its e-commerce rivals which is backed by big players like Sea and Alibaba. For one, Shopee’s parent company has raised close to a billion US dollars in its IPO.

Prior to this new funding, Carousell had raised $41 million, including a $35 million Series B in August last year, from investors that include Rakuten, Sequoia Capital, Golden Gate Ventures and 500 Startups. 

Source : TechCrunch