kindrik partners advises on US$35million VC financing deal



Share on facebook
Share on twitter
Share on linkedin
Share on email

We recently advised Rakuten Ventures on the US$35million series B investment in Carousell, the social commerce site operating in Southeast Asia. The deal is one of the largest ever series B deals to have been completed out of Singapore. Plus it is one of the biggest VC financing rounds in the region this year.

According to Techcrunch, the company has 35 million listings in total, and 70 new listings added per minute with active users spending 17 minutes on its app on average. Which is pretty impressive, but merely reflects the e-commerce boom, and desire for mobile technology in the region. Whilst there is a lot of competition, Carousell could become a significant c2c player in Southeast Asia and beyond. The company is also already looking at markets outside of the region given that its platform is not bound by geography.

Rakuten Ventures is the venture capital arm of Rakuten Group, the Japanese e-commerce giant. The US$200 million fund has invested globally, including across Southeast Asia, in Japan, Korea and the US.

explore our other blog posts

kindrik partners advises Filipino startup edamama on US$5m pre-series A round

We’re pleased to have advised Edamama, an e-commerce platform targeted at mothers in the Philippines, on its recent US$5 million pre-series A round. Gentree Fund, Robinsons Retail Holdings, Kickstart Ventures, Foxmont Capital partners, and other angel investors participated in the round. Edamama was launched in mid 2020 by Nishant and…

introducing: the startup guide to venture debt

Venture debt is fast becoming an alternative or complementary path for startups looking to get capital to accelerate their growth. We’ve created a new resource to help startups get their head around venture debt: The Startup Guide to Venture Debt in Southeast Asia. Our guide covers venture debt for startups…

kindrik newsletter