![]() With dealers spread out across countries, especially in Indonesia, Cheng said services like Carsome can give more remote-based professionals an opportunity to add to their inventory without the inconvenience and cost of travel.Įric Cheng, co-founder and CEO of Carsome That’s a dynamic that is tricky to replicate in other static sale models, Cheng pointed out. The auction model adds competition and the potential for a seller to make more money than they originally anticipated. That approach allows dealers to check in at a set time each day to look over the cars on offer, while the focus on vetting autos quickly - Carsome can dispatch vehicle checkers directly to a prospective seller’s home - means that consumers can quickly get a sale. ![]() Carsome uses an online auction model to conduct sales, with prospective cars typically listed the day after they are submitted by consumers following a check-up conducted by the company’s staff. ![]() This new Carsome raise is matched only by iCar Asia, an Australia-listed company started by Malaysia venture builder Catcha which raised $19 million last year, however Carsome’s model is different because it only sells to professional car dealers rather than facilitating consumer-to-consumer trades.ĬEO Eric Cheng told TechCrunch that the startup was original a price comparison site for autos when it launched in 2015, but within six months it switched it focused to enabling consumers to easily sell their vehicle and dealers to pick up used-vehicles via the web. ![]() After a long wait without news, a third startup has raised funding in the space of a month.Ĭarsome, a Malaysia-based company that also operates in Singapore, Indonesia and Thailand, announced today it has raised a $19 million Series B round just weeks after smaller rivals BeliMobilGue and Rocket Internet’s Carmudi also grabbed money from investors. Funding for Southeast Asia’s car trading platforms is like buses. ![]()
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