Naver Corp. Backs Carousell in Recent Funding Round

More news on fundraising. Carousell, a business-to-consumer and consumer-to-consumer marketplace in Singapore, has raised $80 million from a group of companies spearheaded by South Korean technology giant, Naver Corp. The deal brings up Carousell’s value to more than $900 million.

Jung An Lee, Head of Investments at Naver, said:

“Carousell has built a tremendous platform enabling people in the region to transact more effectively and efficiently. We believe its efforts to focus on the products and the community will be further consolidating its market leader position. We highly look forward to working closely with Carousell.”

Head of Investments at Naver, Jung An Lee, said:

“We believe its [Carousell’s] efforts to focus on the product and the community will further consolidate its market leader position.”

Carousell has raised over $260 million since launch. One such successful funding round was led by OLX Group in April of last year. Other investors who have participated in the past include Telenor Group, Rakuten Ventures, Sequoia India, and Naspers.