Rocket Internet-Backed Car Listings Site Carmudi Raises $25M To Fuel Growth In Asia And Mexico — techcrunch.com

Carmudi, a car classifieds site that focuses on emerging markets, announced today that it has raised $25 million to gear up its operations in Mexico and several Asian countries. This round, Carmudi’s second, includes Asia Pacific Internet Group (a joint venture between Rocket Internet and Ooredoo), Holtzbrinck Ventures, Tengelmann Ventures, as well as an undisclosed private investor. This brings the total Carmudi has raised so far to $35 million. Its last funding round was in April 2014. The company, which was founded in 2013 and now operates in 20 countries, will use the funds to expand in seven Asian markets (Bangladesh, Indonesia, Myanmar, Pakistan, the Philippines, Sri Lanka, and Vietnam) as well as Mexico.

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