Catcha-backed auto portal iCar Asia raises $19m in new funds

Malaysia’s Catcha Group-backed auto portal iCar Asia Limited has raised an additional funding of $18.96 million (AU$25.5 million) as the Australia-listed company preps itself to expand to new car sale segments, auto financing and insurance services.

In an announcement on Wednesday at the ASX, the company disclosed a AU$10 million non-renouncable rights issue and also said it will draw a AU$5 million secured loan facility from Catcha Group for working capital.

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