SG's Carro enters Malaysia with $30m investment in myTukar

Carro, a Singapore-based automotive marketplace backed by SoftBank Ventures Asia, EDBI and B Capital Group, has forayed into Malaysia with a $30-million investment in myTukar, a local car bidding platform.

The company said this is the first of two planned acquisitions in Malaysia, the home market of competitor Carsome. Carro had in August announced the acquisition of consumer-to-consumer marketplace Jualo in Indonesia, along with the close of a $90-million Series B funding round.

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