Carsome invests in Indonesian car auction firm PT Universal Collection

Carsome invests in Indonesian car auction firm PT Universal Collection

Eric Cheng, Carsome co-founder and group CEO.

Southeast Asian used car trading platform Carsome announced that it has acquired a stake in PT Universal Collection, a Jakarta-based offline car and motorcycle auction service company.

Financial details of the acquisition were not disclosed. The deal marks Carsome’s first investment in Southeast Asia this year and allows the integrated car e-commerce platform to double its automotive transaction volume in Indonesia.

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