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New funds and valuation at $1.1 billion

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The Carousell application is displayed on a smartphone in an arranged photograph in Singapore.

Ore Huiying | Bloomberg | Getty Images

SINGAPORE — Southeast Asia’s online classifieds business Carousell on Wednesday said it raised $100 million in fresh funds that value the company at more than a billion dollars.

South Korean private equity firm STIC Investments led the investment round.

The Singapore-based Carousell said it is now valued at $1.1 billion — which makes it Southeast Asia’s latest unicorn, a start-up worth more than a billion dollars.

“We believe that the accelerated adoption of digital experiences is an opportunity for us to double down on our recommerce efforts with a focus…



Source cnbc.com

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