Carousell breaks into unicorn club with $100m raise

Carousell, a Singapore-based online classifieds major, has secured US$100 million at a valuation of US$1.1 billion in its latest round of funding.

More funding details

• Lead investor: Stic Investments
• Stage: Unspecified

More company updates

• The fresh investment comes ahead of the firm’s potential US listing via a merger with a blank-check company – a deal that could push Carousell’s valuation to at least US$1.5 billion.
• Launched in 2012, the company has operations under the brands Carousell, Mudah.my, Cho Tot, and OneKyat in eight markets across Greater Southeast Asia.
• Recently, the firm partnered with Supahands, a Malaysia-based dataset provider, to offer personalized online shopping services in Asia. Carousell also piloted a certified mobiles program, which offers a 12-month warranty for used phones, in Singapore this year.
• The company joins a host of Southeast Asian startups, including Xendit, Carro, and Carsome, that have broken into the unicorn club thanks to a surge in funding from investors looking to claim a stake in the region’s tech startup ecosystem. (Read: A list of Southeast Asia’s unicorns and their early investors)

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.