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Singapore-based Carousell secures US$6 million in Series A funding

Zafirah Salim | Nov. 27, 2014
This funding will be used to support the company’s international expansion to countries such as Malaysia, Indonesia and Taiwan.

Singapore-based mobile marketplace Carousell announced today that it has raised US$6 million (S$7.78 million) in a Series A funding led by Sequoia Capital India.

The company's existing investors, Rakuten Ventures, Golden Gate Ventures, 500 Startups and serial entrepreneur, Darius Cheung, also participated in this round of funding.

According to Carousell's media statement, this funding will be used to accelerate international expansion to countries such as Malaysia, Indonesia and Taiwan. It added that the lifestyle marketplace app's top priority is to grow its engineering, product and community teams to speed up improvements to benefit the Carousell community with features that make buying and selling on Carousell even simpler and safer.

Quek Siu Rui, one of the three co-founders of Carousell, said that the company is on a mission to make online buying and selling accessible to everyone.

"If you know how to snap a photo or send a text message using a smartphone, you essentially know how to buy and sell on Carousell," he said.

Carousell is a mobile-first customer-to-customer (C2C) marketplace and a mobile app that aims to make online person-to-person buying and selling accessible and simple for the emerging smartphone generation worldwide.

 

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