Carousell’s ambition underscores intensifying competition in the online second-hand car market in South-East Asia, where middle class consumers are expected to swell in number to 334 million by 2030. — Carousell
Carousell, a South-East Asian online marketplace that lets people buy and sell second-hand goods, said it plans to invest aggressively to grow its classified cars business in the region.
The Singapore-based startup, last valued at US$850mil (RM3.51bil), will bolster its classified auto business across Malaysia, Vietnam, the Philippines, Hong Kong and Singapore with OneShift – a portal that connects sellers with buyers and dealers – and Reno Financial, which offers loans and other financial services, the company said in a statement.
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