iCar Asia strenthens its market position in Indonesia with proposed acquisition of Carmudi Indonesia by Oct 2019 for US$3 million.
Malaysia and Thailand record quarterly positive Ebitda and net cashflow for 1Q19.
In 2018, two out of three countries that iCar operated in turned profitable.
Malaysia and Thailand expected to be the key drivers of pushing the Group to breakeven by December 2019.
In the midst of closing another funding round Hopes to offer financial services in the near future AFTER recording a strong 2016, automotive portal Carsome is all optimistic that its momentum can continue, as the company is looking to introduce new services and entering new markets.
Malaysian automotive startup Carsome has raised US$2mil funding from IRR, IMJ and 500 Startups to fuel its regional expansion into Indonesia and Thailand.
Malaysian startup Carsome plans to go live in Australia and Singapore later this month, and is in the midst of raising US$2mil Series A funding to strengthen its regional expansion.
Automotive portal Carsome, which connects car buyers to dealers, said it has raised US$350,000 in its first round of funding, from 500 Startups and IdeaRiverRun (IRR).
E-government services provider MY EG Services Bhd (MyEG) has launched its new automotive portal MyMotor, which it said would offer “an integrated transactional online solution” to vehicle ownership.