Carmudi is a Rocket Internet-backed company that sells cars online in emerging markets. The business has retrenched to focus on Indonesia, the Philippines and Sri Lanka and has relocated its headquarters to Jakarta from Berlin. It has expanded beyond classified listings to include new-car sales and finance packages in Indonesia alongside banking partners. CEO Pranjal Kanwar plans to double the company’s revenues in Indonesia and expand its presence beyond six to eight cities. Carmudi claims over 100,000 vehicle listings that attract more than five million monthly visitors but did not disclose sales or revenue figures. At its peak the company covered more than 20 markets, though some services were absorbed or are controlled by other Rocket-backed operations (Africa services were taken by Jumia). Carmudi operates an online car classifieds platform targeting emerging markets. The site hosts about 300,000 vehicle listings and claims roughly five million users per month. Mobile is central to its product: Android apps rolled out last year, an iOS version launched earlier this month, mobile apps have been downloaded about 300,000 times, and mobile visits account for roughly 60–70% of traffic. The company monetizes through listing fees but is currently prioritizing expansion and growth. Founded in 2013 and now operating in 20 countries across Asia, Africa, and the Middle East, Carmudi says it is the top car classifieds site in the Philippines, Bangladesh, and Myanmar. With the new funding it plans to expand into seven Asian markets (Bangladesh, Indonesia, Myanmar, Pakistan, the Philippines, Sri Lanka, and Vietnam) and Mexico, invest in product technology—particularly mobile usability—and scale operations. Carmudi is an online car classifieds site backed by Rocket Internet. The site launched last year and operates a network across eleven countries, six of which are in Asia (Bangladesh, Indonesia, Myanmar, Pakistan, the Philippines and Vietnam). The company says its listings are growing 200% a month and will soon reach about 100,000 worldwide. Carmudi competes in Asia with local operators and Malaysia-based iCar Asia, which has pursued rapid expansion despite reporting a $2.78M loss on $551,000 of revenue in the fiscal year ending June 30. Rocket Internet pursues a strategy of rapid expansion in emerging markets with high mobile penetration, and Carmudi benefits from cross-portfolio logistics groundwork alongside companies like Easy Taxi and Zalora. Co-founder and global managing director Stefan Haubold said the funding will help Carmudi become the number-one online vehicle marketplace in Asia and evolve into a one-stop shop for car reviews, news, tips and advice.

Total raised

$45M

Funding rounds

3

Latest round

Equity

Latest activity

Jan 2018