Japanese cars, anyone? Carro is a Singapore-based unicorn and one of SEA’s largest online used car marketplaces. And now, they just raised $60M! 

Investor check. Cool Japan Fund led the round, while other backers joined in. 

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👜 More on the deal

They’ll work on boosting regional demand for used cars from Japan.

• Carro said that they are expecting demand for used cars and plug-in hybrid electric vehicles (PHEVs) from Japan to grow. 
• This is in part due to the rise of the middle-income population and government subsidies for EVs in countries like Indonesia and Thailand. 

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🎏 Carro in a nutshell

Carro is active in Singapore, Malaysia, Indonesia, Thailand, Japan, Taiwan, and Hong Kong.

• They transact more than 100K units of new and used vehicles per year. 

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✍🏽 Future plans

Carro said they expect to have a greater partnership with Japanese brands.

• The company also said that they are considering a dual listing and expansion into Australia.