Carsome Valuation, Funding & Investors
Carsome is valued at $1.7B as of January 2022.
Last Carsome valuation
$1.7B
Series E · Jan 2022
Last Carsome funding round
$30M
Undisclosed stage · Mar 2026
Cumulative funding Carsome raised
$607M
across 9 funding rounds
Key investors in Carsome
500 Global
Gobi Partners
Ondine Capital
Burda Principal Investments
Asia Partners Fund Management
InnoVen Capital
About Carsome
Carsome is a Petaling Jaya-headquartered digital marketplace for used cars in Southeast Asia. Established in 2015, it streamlines vehicle sales for individuals and businesses via an online portal that handles inspections, valuations, dealer bidding, payments, and logistics. The platform operates in Malaysia, Indonesia, Thailand, the Philippines, and Singapore, connecting sellers directly with verified dealers. Carsome manages the full transaction process, ensuring transparency and efficiency in the region's growing pre-owned vehicle market.
Founded
2015
HQ
Petaling JayaWebsite
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Commission
Valuation
$1.7B (Jan 2022)
Carsome Valuation
Carsome is currently valued at $1.7B, based on its Series E in January 2022.
The $300M round was led by 65 Equity Partners, Qatar Investment Authority and SeaTown Holdings, with participation from Sunway, Ondine Capital, YTL Corp, Taiwan Mobile, Gokongwei Group and 1 other investor.
Carsome's valuation has grown 1.3x from $1.3B at its Series D in September 2021 to $1.7B in January 2022, across 2 priced rounds.
Carsome valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2022 | Series E | $1.7B |
| Sep 2021 | Series D | $1.3B |
Carsome Funding History
Carsome has raised a total of $607M across 9 funding rounds.
Carsome's first fundraising round was a $400K seed round in August 2015. The most recent completed round was a $30M undisclosed-stage round in March 2026.
Carsome funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2026 | Undisclosed stage | Asia Partners Fund Management; Gobi Partners; Hong Kong Investment Corporation Limited | $30M | - | - |
| Jan 2022 | Series E | 65 Equity Partners (lead); Qatar Investment Authority (lead); SeaTown Holdings (lead); Sunway; Ondine Capital; YTL Corp; Taiwan Mobile; Gokongwei Group; MediaTek | $300M | $1.7B | - |
| Sep 2021 | Series D | Daiwa PI Partners; Asia Partners Fund Management; Catcha Group; Ondine Capital; MUFG Innovation Partners; Gobi Partners; Burda Principal Investments; Mulia Sky Capital; 500 Global; MediaTek | $170M | $1.3B | Carsome is Southeast Asia's largest integrated car e-commerce platform, operating as a marketplace for buying and selling used vehicles across the region. The company has grown to become a significant player in the automotive e-commerce space, handling tens of thousands of vehicle transactions annually with millions of customers served across multiple countries including Malaysia and Singapore. In 2021, Carsome raised substantial capital from prominent venture investors including 500 Global, 500 Southeast Asia, Asia Partners Fund Management, Catcha Group, Daiwa PI Partners, Gobi Partners, MediaTek, MUFG Innovation Partners, Mulia Sky Capital, and Ondine Capital. For the year 2021, Carsome reported revenues of USD 655.9 million with gross profit of USD 35.9 million, representing a 5.5 percent gross profit margin. However, the company recorded significant losses in 2021, with negative EBITDA of approximately USD 63 million, a substantial deterioration from negative USD 12 million in 2020. The company's operating burn rate accelerated dramatically, with negative cash flow from operations of USD 114 million in 2021, reflecting aggressive spending on employment, marketing, and other operating expenses despite low profitability margins. By FY2025, Carsome achieved structural profitability with EBITDA more than doubling to USD 23 million and gross profit increasing 16 percent year-on-year to USD 142 million, demonstrating successful execution of a multi-year turnaround and optimization strategy. |
| Dec 2020 | Series D | Asia Partners Fund Management (lead); Ondine Capital; Burda Principal Investments; 500 Global | $30M | - | Carsome is Southeast Asia’s largest integrated car e-commerce platform, operating in Malaysia, Indonesia, Thailand, and Singapore, facilitating C2C and B2C used car transactions with quality inspections. Founded in 2015, it employs over 1,000 people and focuses on end-to-end digital enablement for sellers, dealers, and buyers. On December 8, 2020, Carsome closed a $30 million all-equity Series D round, led by Asia Partners with participation from Burda Principal Investments and Ondine Capital, marking one of the largest such financings in Southeast Asia’s online automotive sector. The funds aim to strengthen C2B used car e-commerce leadership and expand B2C offerings, potentially including mergers and acquisitions for supply chain consolidation. At the time of the round, Carsome transacted an annualized 70,000 cars, totaling $600 million in transacted value, having doubled monthly revenue over the prior six months compared to pre-pandemic levels amid rising demand for personal vehicles. The company positions itself ahead of regional competitors like Carro, OLX Autos, and Carmudi by emphasizing its integrated model. This Series D followed a $50 million Series C in December 2019 involving investors like MUFG Innovation Partners and Gobi Partners. Subsequent rounds included a September 2021 Series D2 raising $170 million equity plus $30 million debt to reach $1.3 billion valuation, and a January 2022 Series E of $290 million at approximately $1.7 billion valuation, with later investors like Qatar Investment Authority and 65 Equity Partners. |
| Dec 2019 | Series C | Daiwa PI Partners; Ondine Capital; MUFG Innovation Partners; Gobi Partners; Endeavor Catalyst; Convergence Ventures; Bossa Invest | $50M | - | Carsome is a Malaysia-based online marketplace for buying, selling, and trading used cars, operating an auction model where vehicles are inspected and listed quickly for dealers. By late 2019, it had expanded to Malaysia, Indonesia, and Thailand, with over 700 employees, more than 6,000 dealers using the platform, and claims of over 40,000 cars worth more than $300 million traded annually. The platform connects individual sellers with dealers and offers financing options. In December 2019, Carsome closed a $50 million Series C funding round comprising equity and debt, led by new investors MUFG Innovation Partners, Daiwa PI Partners, Endeavor Catalyst, and Ondine Capital, with participation from existing backers Gobi Partners and Convergence Ventures. This brought total funding to $85 million. The capital was intended to consolidate market leadership in existing markets, expand to additional Southeast Asian cities like the Philippines, and fend off competitors such as Carro, BeliMobilGue, and Carmudi. Carsome aimed to become the 'Visa/Master network of auto transactions' by building a collaborative ecosystem. By 2020, it launched a B2C segment and later achieved unicorn status through subsequent rounds, including a Series D in 2020 and a $200 million Series D2 valuing it at $1.3 billion. |
| Mar 2018 | Series B | Burda Principal Investments (lead); Gobi Partners (lead); Lumia Capital; AC Ventures; Convergence Ventures; JBV Capital; Indogen Capital; InnoVen Capital | $19M | - | Carsome, a Malaysia-based online used car platform operating in Malaysia, Singapore, Indonesia, and Thailand, raised $19 million in a Series B funding round announced on March 8, 2018, led by Burda Principal Investments with participation from existing investors Gobi Partners, InnoVen Capital, and Lumia Capital. The platform, which started as a price comparison site in 2015, pivoted to an online auction model connecting consumers selling used vehicles to professional dealers after an inspection process. Funds were allocated to scale operations in existing markets, particularly Indonesia and Thailand, through hiring, marketing, and enhancing customer experience, with no immediate expansion plans beyond current countries. The company reported strong growth traction around the round, with monthly total transaction value increasing more than fourfold since January 2017 and total car sales facilitated on the platform more than quadrupling, over 70% of which were inter-city transactions. Carsome positioned itself as a leader in transaction volume in Malaysia and competitive elsewhere, targeting the fragmented $30 billion annual Southeast Asian used car market characterized by inefficiency and lack of transparency. The model emphasized a seamless, transparent process for consumers to sell cars quickly to dealers nationwide. This round matched the scale of iCar Asia's prior raise but differentiated through its B2B dealer focus rather than consumer-to-consumer trades. Carsome had grown to over 150 employees across four countries and worked with over 500 dealers by mid-2018. Subsequent rounds included a $50 million Series C in late 2019 with over 40,000 cars transacted annually and a Series E in 2021 at $1.7 billion post-money valuation. |
| Jun 2017 | Series B | Gobi Partners (lead); Lumia Capital; Spiral Ventures; 500 Global; InnoVen Capital | $6M | - | Carsome, Southeast Asia’s largest C2B used car platform founded in 2015 by Eric Cheng and Jiun Ee Teoh, operates an online used car auction platform. Users receive free online valuation and inspection services before listing on a virtual auction where over 1,500 dealerships compete to buy, ensuring optimal pricing and immediate payment. The platform had operations in Malaysia, Singapore, Thailand, and Indonesia with over 100 staff as of June 2017. On June 6, 2017, Carsome raised US$6 million led by Gobi Partners, with participation from Lumia Capital, InnoVen Capital, and existing investors 500 Global and Spiral Ventures. Monthly revenue had increased 12.5x since the prior round, reaching annualized gross revenue of approximately US$30 million. Funds were allocated to regional expansion, particularly launching more inspection outlets in Indonesia, Malaysia, and Thailand—the region's largest car markets with 3.5 million annual used car transactions—and doubling locations from five by year-end. Carsome aimed to capitalize on Southeast Asia's fragmented used car market through digital consolidation and efficient C2B transactions. |
| Mar 2016 | Series A | IdeaRiverRun (lead); IMG Investment Partners; 500 Global | $2M | - | - |
| Aug 2015 | Seed | IdeaRiverRun; 500 Global | $400K | - | - |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small}
Who has invested in Carsome?
29 investors have backed Carsome across its funding rounds, including 500 Global, Gobi Partners, Ondine Capital, Burda Principal Investments, Asia Partners Fund Management and InnoVen Capital.
Lead investors include 65 Equity Partners, Qatar Investment Authority, SeaTown Holdings, Asia Partners Fund Management, Burda Principal Investments and 2 other investors.
Carsome Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Kuala Lumpur | 5 | Lead | Jun 2017 | |
 San Francisco, CA | 5 | Participant | Aug 2015 | |
 Singapore | 4 | Participant | Dec 2019 | |
| Singapore | 3 | Lead | Dec 2020 | |
 Munich | 3 | Lead | Mar 2018 | |
 Tokyo | 2 | Participant | Dec 2019 | |
| Tokyo | 2 | Participant | Dec 2019 | |
| San Francisco, CA | 2 | Participant | Jun 2017 | |
| Shah Alam | 2 | Lead | Aug 2015 | |
 Jakarta | 2 | Participant | Mar 2018 | |
 Hsinchu | 2 | Participant | Sep 2021 | |
 Mumbai | 2 | Participant | Jun 2017 | |
| Shah Alam | 1 | Participant | Jan 2022 | |
This data is available for Pro users. Sign up to see all 29 Carsome investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Carsome
Carsome has acquired 3 companies to date.
Last acquisition by Carsome was on May 5th 2022. Carsome acquired WapCar for undisclosed valuation.
Latest Acquisitions by Carsome
| Description | WapCar is Malaysia's premier automotive digital platform that delivers comprehensive car reviews, industry news, pricing details, and interactive comparison tools for new and used vehicles across sedans, SUVs, hatchbacks, and electric models. Headquartered in Petaling Jaya, it extends services to markets in Singapore, Philippines, Indonesia, and India through localized content on models like Proton X50, Perodua Myvi, and Toyota Vios. The platform features valuation calculators, loan simulators, and forums where users discuss maintenance tips and ownership experiences. Launched in 2018 as part of the Carsome ecosystem, WapCar attracts millions of monthly visitors seeking reliable data before purchases. | - | iCar Asia is a Kuala Lumpur-headquartered operator of automotive marketplaces across Southeast Asia, including Thailand's One2car, Malaysia's Mudah.my cars section, and Indonesia's Mobil123. The network lists new and used vehicles from dealers and private sellers, facilitating inquiries, valuations, and financing connections. iCar Asia reaches tens of millions of monthly visitors, dominating online car classifieds in its markets. Listed on the Australian Securities Exchange until its 2022 takeover by Carsome. |
| HQ Country | | | |
| HQ City | Kuala Lumpur | - | Kuala Lumpur |
| Deal Date | 5 May 2022 | 17 Mar 2022 | 13 Jul 2021 |
| Valuation | undisclosed | $118M | $200M |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Carsome acquisitions and their M&A valuation multiples. Start Free Trial | |||
Carsome Competitors
Carsome competitors include listed companies like GO and ACV Auctions, and private ones like Vestiaire Collective, Spinny, Zocdoc and ezCater.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Paris | Private | $230M | - | $1.7B | 7.4x | |
| Japan | Publicly listed | $266M | $49M | $1.7B | 5.3x | |
| United States | Publicly listed | $760M | ($19M) | $1.8B | 2.1x | |
| Gurgaon | Private | $498M | - | $1.8B | 3.6x | |
| New York City, NY | Private | $71M | - | $1.8B | 25.4x | |
| Boston, MA | Private | - | - | $1.6B | - |
Carsome Public Comps
Carsome is still privately-owned, but its public comps include GO, ACV Auctions, eFinance, TBO.com, Moltiply Group, CarTrade Tech, Lime, Ziff Davis, Izumi Co and TX Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $266M | $49M | 5.4x | 5.3x | 29.4x | 24.7x | |||
| $760M | ($19M) | 2.3x | 2.1x | (89.6x) | 24.8x | |||
| $130M | $67M | 11.8x | - | 22.8x | - | |||
| $262M | $41M | 6.7x | 5.2x | 43.2x | 34.3x | |||
| $787M | $148M | 2.4x | 2.3x | 13.0x | 8.6x | |||
| $81M | $33M | 17.5x | 15.6x | 43.2x | 43.8x | |||
| $887M | $87M | 2.2x | - | 22.2x | - | |||
| $1.5B | $335M | 0.9x | 1.0x | 3.8x | 3.3x | |||
This data is available for Pro users. Sign up to see all Carsome competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Carsome
| When was Carsome founded? | Carsome was founded in 2015. |
| Where is Carsome headquartered? | Carsome is headquartered in Petaling Jaya, Malaysia. |
| Is Carsome publicly listed? | No, Carsome is a private, VC-backed company. |
| What is Carsome's valuation? | Carsome was last valued at $1.7B in its Series E in January 2022. |
| How much funding has Carsome raised? | Carsome has raised $607M across 9 funding rounds. |
| What was Carsome's last funding round? | Carsome's last funding round was a $30M undisclosed-stage round in March 2026. |
| Who are Carsome's investors? | Carsome's investors include Gobi Partners, 500 Global, Ondine Capital, Asia Partners Fund Management, Burda Principal Investments, Daiwa PI Partners, MUFG Innovation Partners, Lumia Capital, IdeaRiverRun, Convergence Ventures and 19 others. |
| Which companies are comparable to Carsome? | Companies comparable to Carsome include Vestiaire Collective, GO, ACV Auctions, Spinny, Zocdoc and ezCater. |
| How many companies has Carsome acquired? | Carsome has acquired 3 companies, including WapCar, CarTimes Group and iCar Asia. |
| What was the largest acquisition by Carsome? | The $200M acquisition of iCar Asia in July 2021 is the largest acquisition Carsome has made to date. |
See companies similar to Carsome
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.