Singapore's Carro makes $30 mln investment in Malaysia's myTukar

09/21/2019 7:45:00 AM (GMT)

Malaysian online car bidding platform myTukar has received $30 million in equity financing.

myTukar secured the latest funds from Singapore-based automotive marketplace Carro.

Carro noted that it plans to work with thousands of distributors in Malaysia through myTukar to promote the growth of the used car market.

The company added that over the next few years, it plans to triple myTukar's existing transaction volume to more than $500 million.

Carro

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