Malaysia's Carsome to buy iCar Asia in US$200mil deal that will create largest used car digital automotive marketplace in SEA
Malaysian-based Southeast Asian used-car e-commerce platform has cemented its position as a leading player in the region with its proposed US$200mil acquisition of iCar Asia, an ASX listed Southeast Asian focused car listing platform.
Car e-commerce platform, Carsome, has set up a data center of excellence (CoE) to revolutionize the used car industry through digitalisation and empower decision-making in business.
As part of its brand-building commitment, Carsome is now a sponsor of the B-Quik Absolute Racing Team Car #1
One of largest all-equity rounds to date in SEA’s online automotive sector Eyeing US IPO by end 2023 as market interest for its segment is strong there
Appointment will help the company strengthen its market position as SEA's leading used-car trading platform and ecosystem anchor.
40,000 cars transacted annually on Carsome, 1% of SEA used car market Combination of equity and debt investments from new & existing investors
Dealer financing tie up offers up to US$200 million in financing opportunities.
Will lead all brand marketing, consumer marketing and trade marketing activities across the region.
Used car trading platform opens inspection centres in Penang, Johor Bahru and Malacca.
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