About Carousell
Carousell is a Retail company based in Singapore (Singapore) founded in 2012 by Ngoo Cheng Han, Lucas Ngoo, Siu Rui Quek, and Marcus Tan. Carousell has raised $375.6 million across 9 funding rounds from investors including Rakuten, NAVER and Telenor. The company has 1,227 employees. Carousell has completed 7 acquisitions, including Caarly, Duriana and Laku6. Carousell was last valued at $1.1 billion in September 2021. Its chief executive, as recorded, is Siu Rui Quek. Its website carousell.sg draws about 8.3 million monthly visits. Its Indian entity Carousell Technology Private Limited reported revenue of ₹50.98 Cr. Its focus areas include Horizontal E-Commerce, Second Hand, Marketplace and P2P.
Company details
Online marketplace platform offering multi-category second-hand products. The product catalog includes fashion, stationery, gadgets, home appliances, furniture, food supplies, pet supplies, sports equipment, and more. It also provides job, home services, lifestyle services, and more. The application is available on both iOS and Android platforms.
- Headquarters Singapore, Singapore
- Employees 1,227
- Founders Ngoo Cheng Han, Lucas Ngoo, Siu Rui Quek, Marcus Tan
- Stage Unicorn
- SectorsRetail
- Email••••••••
- Website carousell.sg
- Social LinkedIn X Facebook
- Legal Name Carousell Technology Private Limited
- Date of Incorporation 30 Mar, 2019
- Indian entity revenue₹50.98 Cr
FY 2025 · +19% YoY
- Indian entity net profit₹5.20 Cr
FY 2025 · 10% margin
- Indian entity EBITDA₹7.31 Cr
FY 2025 · 14% margin
- Total Equity Funding$375.6M (USD)
in 9 rounds
- Latest Funding Round$2.8M (USD), Series E
Sep 2023
- InvestorsRakuten
& 21 more
- Employee Count1,227
- Investments & AcquisitionsCaarly
& 6 more
Associated legal entities of Carousell
Carousell operates through Carousell Technology Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Carousell Technology Private Limited CIN U72900KA2019FTC122987 | Active | 30 Mar 2019 | Bangalore, Karnataka | ₹51.0 Cr | 3 | View details |
Funding Insights of Carousell
Carousell has successfully raised a total of $375.6M across 9 strategic funding rounds. The most recent funding activity was a Series E round of $2.8 million completed in September 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $375.6M
- Total Rounds 9
- Last Round Series E — $2.8M
- First Round $800,070
(Nov 2013)
- Investors Count 22
All 9 funding rounds of Carousell with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2023 | $2.8M | Series E | – | GoTo Group | – |
| Nov 2021 | $10M | Series E | – | Heliconia Capital Management | – |
| Sep 2021 | $100M | Series E | $1.1B | STIC Investments | – |
| Sep 2020 | $80M | Series D | $900M | NAVER | |
| Apr 2019 | $56M | Series C | $••••• | Olx Group | – |
| May 2018 | $85M | Series C | – | EDBI, Rakuten | |
| Aug 2016 | $35M | Series B | – | Rakuten | |
| Nov 2014 | $6M | Series A | – | Peak XV Partners | |
| Nov 2013 | $800,070 | Seed | – | Rakuten |
| Date | Valuation | Stage |
|---|---|---|
| Sep 2021 | $1.1B | •••••••• |
| Sep 2020 | $900M | •••••••• |
| Apr 2019 | $••••• | •••••••• |
Full valuation and stage history of Carousell
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $1.1B (Sep 2021). 22 investors in total: 20 institutional and 2 angel.
Investors in Carousell
Carousell has secured backing from 22 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Rakuten, NAVER and Telenor.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investments in growth stage companies are managed via private equity. | heliconiacapital.com | Singapore, Singapore | ||
Private equity and innovation services are provided by STIC Investments. | stic.co.kr | Seoul, South Korea | ||
Government-backed investments are directed toward healthcare, fintech, and various sectors. | edbi.com | Singapore, Singapore | ||
Venture capital firm investing in Southeast Asian startups | goldengate.vc | Singapore, Singapore | ||
Venture capital and acceleration are provided to tech startups. | 500.co | Ho Chi Minh City, Vietnam | ||
Venture capital firm investing in startups and providing support programs. | 2000 | peakxv.com | Bengaluru, India | |
Early-stage startups are funded by Quest Ventures venture capital firm. | questventures.com | Singapore, Singapore | ||
Incubator and accelerator program for startups by NUS | enterprise.nus.edu.sg | Singapore, Singapore | ||
Early-stage investments in technology sectors are made by Mavcap. | 2001 | mavcap.com | Kuala Lumpur, Malaysia | |
Development of the angel investment community is promoted through networking. | bansea.org | Singapore, Singapore |
Investor details for Carousell
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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Verified entity values are shown only after access is granted.
Board of directors of Carousell Technology Private Limited (Carousell)
Carousell Technology Private Limited is the primary company behind Carousell. The board of Carousell Technology Private Limited currently have 3 directors; the longest-serving is Siu Rui Quek, appointed in 2019. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Siu Rui Quek DIN 08406732 | Director | 30 Mar 2019 | 7 yrs 7 mo | Carousell Technology Private Limited |
| Marcus Tan DIN 08406743 | Director | 30 Mar 2019 | 7 yrs 7 mo | Carousell Technology Private Limited |
| Nand Kishor Mishra DIN 05300187 | Additional Director | 29 Dec 2024 | 1 yr 10 mo | Carousell Technology Private Limited |
People of Carousell
8 people are tracked at Carousell (8 in leadership); the tracked headcount is 1,227.
| Name | Role | Group |
|---|---|---|
Ngoo Cheng Han | Co-Founder | Leadership |
Lucas Ngoo | Co-Founder | Leadership |
| Co-Founder & CEO | Leadership | |
| Co-Founder | Leadership | |
Lauria Vincent Edward | Board Member | Leadership |
Rakesh Malani | CFO & Board Member | Leadership |
Sverre Johan Rostoft | Board Member | Leadership |
Ahn Sae Min | Board Member | Leadership |
Complete people profiles for Carousell
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- Full employee list
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Financials of Carousell
Figures of Carousell Technology Private Limited, the primary company behind Carousell, for FY 2025. Revenue was ₹50.98 Cr (+19% year on year). Net profit was ₹5.20 Cr (10% margin). EBITDA was ₹7.31 Cr (14% margin). Revenue has grown at a compounded annual rate of +39% over three years and +75% over five years.
- ₹50.98 CrRevenue · FY 2025 · +19% YoY
- ₹5.20 CrNet profit · 10% margin
- ₹7.31 CrEBITDA · 14% margin
- ₹1.94 CrPaid-up capital
- +39%Revenue CAGR, 3 years
- +75%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Carousell Technology Private Limited are on its company page.
Detailed financial statements for Carousell
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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- Downloads
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Investments & Acquisitions by Carousell
Carousell has strategically engaged in corporate development activities, having acquired 7 companies. Notable acquisitions include Caarly, Duriana and Laku6.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Authentic Hermes and Chanel handbags are retailed by LuxLexicon. | luxlexicon.com | Singapore | 2016 | Apr 2024 | •••• | |
Second-hand consumer electronics are retailed online across multiple categories. | laku6.com | Jakarta, Indonesia | 2015 | Jul 2022 | $25M | |
An online marketplace for sneakers from various brands is operated. | oxstreet.com | Singapore | 2019 | Oct 2021 | •••• | |
Online classifieds platform where ads are created and shared socially. | olx.ph | Manila, Philippines | 2014 | Apr 2019 | •••• | |
P2P Mobile-first Marketplace | duriana.com | Singapore | 2013 | Jan 2017 | •••• | |
Mobile-first used car dealership listing platform | caarly.com | Singapore | 2014 | Oct 2016 | •••• | |
Mobile app for women security | watchovermeapp.com | Kuala Lumpur, Malaysia | 2011 | Sep 2016 | •••• |
Complete acquisition details for Carousell
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of Carousell
13 dated milestones of Carousell across 12 years, from founding to its latest funding, stage changes and deals.
- Founded Carousell is founded.
- Funding First funding round of $800K.
- Acquisition Acquires Watch Over Me.
- Acquisition Acquires Caarly.
- Acquisition Acquires Duriana.
- Milestone Reaches Minicorn status.
- Acquisition Acquires OLX Philippines.
- Milestone Reaches Soonicorn status.
- Milestone Reaches Unicorn status.
- Acquisition Acquires Ox Street.
- Acquisition Acquires Laku6.
- Funding Latest funding round, Series E, of $2.8M.
- Acquisition Acquires LuxLexicon.
Web traffic of Carousell
The website of Carousell (carousell.sg) receives about 8.3M visits a month.
- Monthly visits8.3M
▼ 3.4% vs previous month
Websites whose visitors overlap most with Carousell. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
ebay.com.sg | ebay.com.sg | 100% | #49,784 | – | |
lazada.sg | lazada.sg | 92% | #10,921 | – | |
| popular.com.sg | 84% | 294K | #142,050 | View details | |
 amazon.sg | amazon.sg | 84% | #6,472 | – | |
shopee.sg | shopee.sg | 83% | #2,732 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Carousell
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Related news about Carousell
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Frequently Asked Questions about Carousell
Carousell was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Carousell is headquartered in Singapore, Singapore. It is registered at Singapore, Singapore, Singapore.
Siu Rui Quek is the CEO of Carousell, as recorded in our data. They have also founded this company.
Carousell is a funded company, having raised a total of $375.6M across 9 funding rounds to date. The company's 1st funding round was a Seed of $800.07K, raised on Nov 2013.
Carousell has 1,227 employees.
The primary company behind Carousell, Carousell Technology Private Limited, reported revenue of ₹50.98 Cr for FY 2025, up 19% year on year.
Online marketplace platform offering multi-category second-hand products. The product catalog includes fashion, stationery, gadgets, home appliances, furniture, food supplies, pet supplies, sports equipment, and more. It also provides job, home services, lifestyle services, and more. The application is available on both iOS and Android platforms.
Carousell has 22 investors. Key investors include Rakuten, NAVER, Telenor, NH Investment & Securities, and GoTo Group.
The valuation of Carousell is $1.1B as of Sep 2021.
Carousell operates through Carousell Technology Private Limited.
The legal entities of Carousell currently have 3 directors, including Siu Rui Quek, Nand Kishor Mishra, Marcus Tan.