Carsome inches another step closer to IPO, raises RM 1.26 billion funding

According to sources familiar with the matter, Carsome Sdn. Bhd, an online used car platform in Southeast Asia, has raised almost USD 300 million (~RM 1.26 billion) in a financing round led by funds linked to Temasek Holdings Pte Ltd and Qatar’s sovereign wealth fund.

The source also added that 65 Equity Partners and SeaTown Holdings Pte Ltd, both of which are backed by Temasek Holdings, and the Qatar Investment Authority (QIA) are among the investors that participated in the fundraising by Carsome.

Carsome is planning an initial public offering (IPO) in the US later this year. Representatives of Carsome, 65 Equity Partners, SeaTown, and QIA did not immediately respond to requests for comment by Bloomberg.

They began gauging investor interest back in November, and was seeking to raise about USD 200 million. In a September statement, Carsome said it mopped up USD 170 million in a series D2 round at a USD 1.3 billion valuation.