About Carousell
Carousell is a 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 NH Investment & Securities. Carousell has completed 7 acquisitions, including Caarly, Duriana and Laku6. Carousell operates in a competitive market with competitors including eBay, Quikr, Mapan, OLX and 58City, among others.
- Headquarter Singapore, Singapore
- Founders Ngoo Cheng Han, Lucas Ngoo, Siu Rui Quek, Marcus Tan
- Stage Unicorn
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
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Annual Revenue
$115.94 M40as on Dec 31, 2023
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Net Profit
$-38.06 M40as on Dec 31, 2023
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EBITDA
$-35.54 M43as on Dec 31, 2023
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Total Equity Funding
$375.6 M (USD)
in 9 rounds
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Latest Funding Round
$2.8 M (USD), Series E
Sep 04, 2023
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Investors
Rakuten
& 14 more
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Employee Count
Employee Count
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Investments & Acquisitions
Caarly
& 6 more
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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 Total Funding
- Total Rounds 9
- Last Round Series E — $2.8M
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First Round
First Round
(13 Nov 2013)
- Investors Count 15
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2023 | Amount | Series E - Carousell | Valuation | GoTo Group |
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| Nov, 2021 | Amount | Series E - Carousell | Valuation | Heliconia Capital Management |
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| Sep, 2021 | Amount | Series E - Carousell | Valuation | STIC Investments |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Carousell
Carousell has secured backing from 15 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Rakuten, NAVER and NH Investment & Securities. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments in growth stage companies are managed via private equity.
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Founded Year | Domain | Location | |
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Private equity and innovation services are provided by STIC Investments.
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Founded Year | Domain | Location | |
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Government-backed investments are directed toward healthcare, fintech, and various sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Carousell
Carousell has strategically engaged in corporate development activities, having acquired 7 companies. Notable acquisitions include Caarly, Duriana and Laku6. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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An online marketplace for sneakers from various brands is operated.
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2019 | ||||
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Authentic Hermes and Chanel handbags are retailed by LuxLexicon.
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2016 | ||||
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Second-hand consumer electronics are retailed online across multiple categories.
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Carousell
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Carousell Comparisons
Competitors of Carousell
Carousell operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as eBay, Quikr, Mapan, OLX and 58City, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multi-category consumer products are sold via an online marketplace platform.
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| domain | founded_year | HQ Location |
Online platform for second-hand listings and peer-to-peer transactions
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| domain | founded_year | HQ Location |
Household products are resold via an online platform.
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| domain | founded_year | HQ Location |
Second-hand multi-category products are listed on an online platform.
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| domain | founded_year | HQ Location |
Online second-hand listing platform offering multi-category products and services
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Carousell
Frequently Asked Questions about Carousell
When was Carousell founded?
Carousell was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Where is Carousell located?
Carousell is headquartered in Singapore, Singapore.
Who is the current CEO of Carousell?
Siu Rui Quek is the current CEO of Carousell. They have also founded this company.
Is Carousell a funded 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 Series E of $100M, raised on Nov 13, 2013.
What is the annual revenue of Carousell?
Annual revenue of Carousell is $115.94M as on Dec 31, 2023.
What does Carousell do?
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.
How many acquisitions has Carousell made?
Who are Carousell's investors?
Carousell has 15 investors. Key investors include Rakuten, NAVER, NH Investment & Securities, GoTo Group, and Peak XV Partners.
What is Carousell's valuation?
The valuation of Carousell is $1.1B as of Sep 2021.
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