<article>Myanmar&#8217;s leading online car classifieds platform, <a style="color: #000080;" href="http://www.carsdb.com/my">CarsDB</a>, is expecting to raise a third round of funding in 2016 to add features and expand its platform.</article>

Myanmar&#8217;s leading online car classifieds platform, <a style="color: #000080;" href="http://www.carsdb.com/my">CarsDB</a>, is expecting to raise a third round of funding in 2016 to add features and expand its platform.
Started in 2012, the portal raised its previous round of funding in December 2014 from Malaysian based <a style="color: #000080;" href="http://frontierdv.com">Frontier Digital Ventures</a>, which owns stakes in similar ventures in frontier markets like Pakistan, Africa and Myanmar. The previous round valued CarsDB at $2 million.
With an active listing of about 15,000 cars on site, CarsDB had listed up to 90,000 cars  from 2012 till 2014 and listed another 50,000 more after FDV&#8217;s investment in 2014.
“We got an app for IOS and added features,” said Wai Yan Lin, CEO of CarsDB said, about upgrading to a more user friendly feature in 2015. The company also hired talent and now its head count stands at 20.
They are very soon launching an updated version of the app where users can upload photos directly from the IOS app.
“Currently users can browse, read and use it as a directory through the IOS app. The new feature will include uploading directly and advertising from the app. We hope there will be more users,” said Lin.
CarsDB has about 1.8 million viewers per month with 1,00,000 active users, said Lin, adding that the app has about 50,000 active users to date.
Their future plans include going beyond being a car listings platform and targeting the aftermarket as well. The startup is looking at adding the after sales and service features to the platform. So, it will have listings of car service stations, accessories and car washes and so on, according to Lin.
The startup will be in Bangkok in December to attend the <a style="color: #000080;" href="http://www.autoaftermarketexpos.com/bangkok/why-exhibit">Automotive Aftermarket International Trade Fair</a> to promote its brand.
Lin claims the site has a fair system of verification of cars on site and their team can judge if there are any irregularities in the cars listed.
The increased use of internet has made it easy for buyers to purchase cars online and save time. “We want to make the business process fast, easy, cost-effective and transparent,” said Lin.
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CarsDB is expecting to have a third round of funding in 2016 after they have made some expansions since 2014 and have plans for more work on their platform.

Myanmar: FDV-backed CarsDB eyes seed funding in 2016, to cover auto accessories & services

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Myanmar: FDV-backed CarsDB eyes seed funding in 2016, to cover auto accessories & services

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