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Singapore start-up Carro raises $360 million from SoftBank and others

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A used car dealership is seen in Laurel, Maryland on May 27, 2021, as many car dealerships across the country are running low on new vehicles as a computer chip shortage has caused production at many vehicle manufactures to nearly stop.

Jim Watson | AFP | Getty Images

SINGAPORE — Singapore-based start-up Carro announced Tuesday that it raised $360 million in a Series C funding round led by SoftBank’s Vision Fund 2.

The start-up operates an online marketplace where users can buy, sell or lease pre-owned and new cars. It also sells financing options, insurance and maintenance services for those vehicles.

Carro did not disclose its exact valuation. However, the company said it is the newest…



Source cnbc.com

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