In FY2022 ended March 31, 2022, Carsome’s revenue grew by 250% y-o-y to US$1.5 billion. In the 1QFY2023, the group saw its trade margin double y-o-y. Nearly over 80% of the trade margin came from transaction margins, leaving a huge potential upside for ancillary revenue, given the group’s focus on ecosystem offerings such as financing, insurance and aftersales.
Carsome Group, Southeast Asia’s largest integrated car e-commerce platform, has closed its latest funding round on June 19. The latest round brings the group’s liquidity position to around US$200 million ($267.9 million).
The funding round saw broad-based participation from Carsome’s current investors including 65 Equity Partners, Seatown Private Capital Master Fund, Qatar Investment Authority, Gobi Partners, and Asia Partners. The round also attracted a long-term debt facility from a new investor, EvolutionX Debt Capital. This is EvolutionX Debt Capital’s first such investment in Southeast Asia. The growth stage debt financing platform was launched by DBS Bank and Temasek Holdings in July 2021.
