Carsome Group Attracts Financing from QIA and Singaporean Sovereign Wealth
Posted on 01/07/2022
Malaysia-based Carsome Group is an online platform for buying and selling used cars. Carsome Group raised almost US$ 300 million in a financing round led by funds linked to Singapore’s Temasek Holdings and Qatar’s sovereign wealth fund. 65 Equity Partners and SeaTown Holdings Pte., are both backed by Temasek Holdings, and Qatar Investment Authority are among investors that participated in the fundraising by Carsome. Carsome Group is planning an initial public offering in the U.S. later in 2022. Founded in 2015, Carsome Group has expanded into Indonesia, Thailand, and Singapore. Carsome Group works with more than 8,000 dealers and handles more than 100,000 transactions on an annualized basis, according to its website.
