Naver Corp. Backs Carousell in Recent Funding Round

September 14, 2020

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.

September 14, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Product Update July4
Product and Services Roundup: Cian, DomClick, Kleinanzeigen, Rightmove, iMyanmarHouse

We'll kick off this week's Product and Services Roundup with some nifty tools coming out of two Russian portals...  ...

Read More
People Roundup 4July 1
People Roundup: REA India, Lifull, REA Group, Rightmove

This week's People Roundup starts with a major C-Suite appointment in India...   Asia: REA India confirms new CEO appointment...

Read More
BCG Generic 2
Baltic Classifieds Group Sees 15% Revenue Growth in Yearly Results

The online classifieds operator Baltic Classifieds Group (BCG) has reported 15% revenue growth for the 12 months ended April 30th....

Read More
redfinrocketacq 3
Rocket Companies Completes $1.8Bn Redfin Acquisition

Rocket Companies has finalized its acquisition of Redfin for a reported $1.8 billion, consolidating the most-trafficked brokerage site with the...

Read More

Editor's Pick