SG's Carro raises $11m from Mitsubishi, MS&AD Ventures, others

Singapore-based used car marketplace Carro has raised $11 million from Mitsubishi Corporation, MS&AD Ventures and two existing investors, according to financial filings submitted at the beginning of 2020.

Existing investors SoftBank Ventures Asia and Golden Gate Ventures topped up in the round. SoftBank Ventures Asia invested in the firm through its Growth Acceleration Fund while Golden Gate did so via GXH Investments, a co-GP fund with South Korea’s Hanwha Asset Management.

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