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Singapore’s Carro Is a Unicorn With $360 Million Led by SoftBank

  • Carro facilitates online auto purchases in Southeast Asia
  • CEO says Carro seeks U.S. listing in 18 to 24 months

Carro, one of Southeast Asia’s biggest online marketplaces for used cars, has raised $360 million led by SoftBank Vision Fund II to fuel expansion in Thailand and Indonesia before pursuing a U.S. listing.

The fresh capital pushed Carro’s valuation to more than $1 billion, the company said in a statement. The business competes with Carousell and Carsome in Southeast Asia.