Carousell, a Singapore-based online classified listings operator backed by internet group Naver, e-commerce firm Rakuten and internet group Prosus, has raised $100m from Stic Investments.
Founded in 2012, Carousell provides access to an online platform that lets users buy and sell second-hand goods including cars, fashion, electronics and furniture.
The round, which valued Carousell at $1.1bn, will enable it to cement its position in the Southeast Asia region.
Quek Siu Rui, co-founder and CEO of Carousell, said: “Stic’s investment is a validation of our mission and strategic direction. We will deepen our investments in recommerce across more categories and markets and will continue to seek opportunistic acquisitions in scaling up.”
The company previously raised $263m of funding, including an $80m round in September 2020 that was led by Naver investing alongside Mirae Asset-Naver Asia Growth Fund, a vehicle established by Naver and investment firm Mirae Asset Daewoo, as well as securities brokerage NH Investment & Securities.
Prosus’ online marketplace subsidiary, OLX Group, invested $56m in Carousell in April 2019.
Carousell collected $85m in a 2018 series C round co-led by Rakuten Ventures, a corporate venturing arm of Rakuten, and Singapore state-owned investment firm EDBI. Financial services group DBS, 500 Global (then called 500 Startups), Golden Gate Ventures and Sequoia India also contributed to that round.
Rakuten Ventures led its $35m series B round in 2016, which included 500 Global, Sequoia Capital and Golden Gate Ventures.
The business raised $6m in a Sequoia-led series A round in 2014 that featured Rakuten Ventures, 500 Global, Golden Gate Ventures and private backer Darius Cheung. The latter four also took part in an $800,000 seed round in 2013.