Heaptalk, Jakarta — Carsome Group obtained RM100 million, approximately US$21.4 million (US$1 equals RM4) in financing facility from AmBank Group to expand its liquidity and bolster its capacity for future growth (07/16).
With AmBank’s support, Carsome will be able to accelerate different stages of the used car trading process further, offering its customers a comprehensive, hassle-free experience. AmBank’s commitment to supporting the car e-commerce platform underscores the bank’s dedication to fostering the growth of forward-thinking businesses and driving the evolution of the automotive industry in the region.
“AmBank is pleased to support Carsome’s remarkable growth and innovation in providing end-to-end solutions for customers. Their exemplary track record in the used car market makes us proud to partner with them in revolutionizing Malaysia’s automotive ecosystem. With their strong brand equity, financial standing, and extensive customer base, we look forward to seeing how this collaboration can further fortify Carsome Capital’s operations and prospects. We hope to continue to expand opportunities with Carsome in the coming years,” said Christopher Yap, Managing Director of Business Banking at AmBank Group.
Eric Cheng, Carsome Group’s Co-Founder, Chairman, and CEO said, “We are thrilled to partner with AmBank, marking a pivotal moment in our journey to revolutionize the automotive industry. A financing facility at this scale is a strong validation of Carsome’s business model and allows us to enhance Carsome Group’s overall financing capabilities. It also underscores our commitment to providing accessible solutions for our customers and elevating the car ownership experience. Through Carsome Capital, we will leverage this partnership to further expand our service offerings, broadening our impact and continuing to innovate in the automotive ecosystem across Southeast Asia.”
Established in 2015, Carsome has made rapid strides in business and is now Southeast Asia’s largest integrated car e-commerce platform. Its end-to-end ecosystem has expanded through several services, including car inspections, sales, financing, and after-sales support. The RM100 million financing facility secured from AmBank Group will empower Carsome, significantly enhancing its capacity to grow and innovate. This substantial funding will enable the platform to extend its reach, improve its services, and drive sustained growth, reinforcing its commitment to delivering exceptional value across all facets of its operations.
