B2C. Singapore’s used car marketplace company, Carro, has acquired Jualo.com of Indonesia. Whilst Carro operates as a car marketplace, Jualo covers new and used goods across a range of categories including cars and motorbikes but also property and fashion. The deal comes alongside Carro’s new $90m series B fundraising round. The start-up, established in 2016, has now raised $100m from investors, with deal volumes via its site increasing from $120m in 2016 to $500m in 2018 and expansion into car insurance and roadside assistance. Jualo has over 4m monthly users and enabled over $1bn of transactions in 2018; the company will continue to operate under the Jualo brand.
Singapore’s Carro expands
