FINANCE

Carousell snaps up $80m from Naver-led investors

By Son Ji-hyoung
  • Published : Sept 16, 2020 - 18:02
  • Updated : Sept 16, 2020 - 18:02

(Courtesy of Carousell)
Singapore-based online marketplace platform Carousell said Wednesday it had raised a combined $80 million funding from an investor group led by South Korean internet giant Naver.

Along with Naver, other Korean investors, including Mirae Asset-Naver Growth Fund and NH Investment & Securities, took part in the consortium. Credit Suisse advised the deal.

The funding enabled Carousell to exceed a $900 million valuation, according to the startup.

Since launching in 2012, Carousell has been dedicated to being a web-based community marketplace for buying and selling goods. The classified advertisement platform operates in eight markets across Southeast Asia, as well as Taiwan and Hong Kong.

By Son Ji-hyoung (consnow@heraldcorp.com)