What is Carousell?
Founded in 2012, Carousell operates as a prominent smartphone and web-based marketplace facilitating consumer-to-consumer and business-to-consumer transactions for new and secondhand goods. The company has established a strong presence across numerous markets, including Singapore, Malaysia, Indonesia, the Philippines, Cambodia, Taiwan, Hong Kong, Macau, Australia, New Zealand, and Canada. Its headquarters remain in Singapore, serving as the central hub for its expansive operations. Carousell's business model centers on providing a user-friendly platform for buying and selling, fostering a vibrant ecosystem for diverse commerce.
How much funding has Carousell raised?
Carousell has raised a total of $306M across 5 funding rounds:
Series A
$6M
Series B
$35M
Series C
$85M
Unspecified
$80M
Unspecified
$100M
Series A (2014): $6M with participation from Golden Gate Ventures, 500.com, and Steamboat Ventures
Series B (2016): $35M led by Sequoia India, 500.com, and Golden Gate Ventures
Series C (2018): $85M, investors not publicly disclosed
Unspecified (2020): $80M featuring NH Investment & Securities, Naver Corp., Mirae Asset-Naver Asia Growth Fund, Steamboat Ventures, Naspers, and Rakuten Ventures
Unspecified (2021): $100M backed by STIC Investments
Key Investors in Carousell
Steamboat Ventures
Steamboat Ventures, founded in 2000, focuses on helping young companies become market leaders. They invest in early to growth stage companies within the technology, media, and consumer sectors. The firm is dedicated to creating lasting value in each of its investments.
Naspers
Naspers Limited is a South African multinational technology and internet company that invests in and operates a wide range of digital platforms globally. The company focuses on ecommerce, online services, and digital entertainment, partnering with and funding innovative businesses.
Sequoia India
Sequoia Capital in India currently manages funds capitalized at close to USD 1.4 billion and invests across venture, growth, and late stage opportunities. It takes a long-term view on investments and plays the role of an active, value-added partner to entrepreneurs.
What's next for Carousell?
With its recent major strategic investment, Carousell is poised for accelerated growth and market penetration. The substantial capital infusion, part of its overall $306M in financing, suggests a strategic focus on scaling operations, enhancing its technological infrastructure, and potentially exploring new market verticals or geographical expansions. This backing indicates strong investor confidence in Carousell's long-term vision and its ability to navigate the competitive landscape of online marketplaces, likely leading to further development of its platform features and user experience.
See full Carousell company page
