Carmudi secures $25 mln in new funding for Asia, Latin America
View(s):Carmudi, a global car classified site, has raised US$25 million to strengthen its operations in Asia and Latin America.
Investors include Asia Pacific Internet Group (APACIG), a joint venture of Rocket Internet and Ooredoo, Holtzbrinck Ventures, a leading consumer internet investor, Tengelmann Ventures, a division of international multi-sector retailer Tengelmann Group, ad a private investor, the company said in a media release issued through its Sri Lanka office.
Launched in October 2013, Carmudi has rapidly scaled up to 20 countries, seven of which are in Asia (Bangladesh, Indonesia, Myanmar, Pakistan, the Philippines, Sri Lanka and Vietnam) and one in Latin America (Mexico). The platform is known to provide the most innovative and fastest way to buy and sell cars, motorcycles and commercial vehicles online. The announcement of this funding comes at a time when the company is experiencing a remarkable growth of over 50 per cent in all its markets and has authentic listings of over 300,000 vehicles for its users globally, it said. Carmudi Co-Founder and Global Managing Director, Stefan Haubold said: “This funding will be crucial in boosting our operations in Asia and Latin America. Our goal is to be the No.1 car classified platform in all our markets.
There are over 300 million active Internet users that we are aiming to tap into in these markets. We want to make sure that we bring them the best experience of car shopping on their laptops and mobile phones.”
Carmudi is a vehicle marketplace which offers buyers, sellers and car dealers the ideal platform to find cars, motorcycles and commercial vehicles online.