SINGAPORE -- Carro, a Singapore-based online marketplace for used cars, has closed a $60 million funding round led by a Japanese government fund, the company announced Wednesday, as it seeks to increase its presence in the regional auto sales market where Japanese brands have significant shares.
Startups
Singapore unicorn Carro raises $60m from Cool Japan Fund and other backers
Investment in used car marketplace comes as Chinese brands gain popularity in region
Founded in 2015, Carro bills itself as the Asia-Pacific region's largest online used marketplace for vehicles. © Reuters
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