Miguel Cordon · · 1 min readThai car listing site nets $300k from 500 TukTuks, others in seed round
SiamCarDeal, a platform that connects potential car buyers with auto dealerships, raised US$300,000 in seed funding from 500 Startups’ Thai fund, 500 TukTuks, and angel investors.
Photo credit: 500 TukTuks
It has also developed a system that sends inquiries from potential buyers directly to dealerships, enabling quicker responses from the dealers’ salespeople.
Damien Kerneis, co-founder of SiamCarDeal, said that the company plans to offer more services for the showrooms and bring in support for used cars on its platform.
Since its launch in 2016, SiamCarDeal claims to have partnered with over 100 car dealers across Thailand, with over 3,000 cars sold through its platform in 2018.
Earlier this year, 500 TukTuks participated in a series A funding round for spa and beauty-booking marketplace Gowabi. In 2018, 500 Startups’ second Thai fund, 500 TukTuks II, invested an undisclosed amount into six startups, including EnerGaia, DeepSparks, InstaWash, Kinkao, JuiceInnov8, and Neuron Mobility.
Editing by Charmaine de Lazo
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