Heaptalk, Jakarta — A car e-commerce platform Carsome achieved an adjusted EBITDA of USD 10.5 million in 2024, marking its first full year of profitability since its establishment and maintaining positive earnings since December 2023.
The company claimed that last year was a pivotal period whereby Carsome sustained stable revenue while successfully reaching profitability. The company saw continuous improvements in unit economics, leading to a 25% year-on-year increase in Gross Profit per Unit (GPU). Stronger vehicle margins, better monetization of platform services, higher revenue from ancillary services, and lower refurbishment and logistics expenses drove this growth.
As profitability continues, CARSOME has also strengthened its partnerships with financial institutions. Following its collaboration with AmBank Group in 2024, the company is set to partner with Japan Consumer Credit Service Co., Ltd. (JACCS), which will provide additional financing for its retail consumer and dealer financing operations. This collaboration will further enhance its ancillary business and extend services to underserved markets.
As part of this strategic collaboration, JACCS will acquire a 49% stake in CARSOME Capital, while CARSOME Group will retain majority ownership with a 51% share. This partnership leverages JACCS’ extensive expertise and global resources alongside CARSOME Capital’s established ecosystem and market insights to develop customized financing solutions in Malaysia, with a focus on underserved segments. Additionally, the collaboration will facilitate knowledge transfer to enhance risk assessment frameworks, strengthen credit governance, and implement best practices that drive financial sustainability and improve portfolio performance.
“Achieving full-year profitability is a defining milestone for CARSOME as we enter our 10th year, demonstrating the strength of our business model and our ability to generate sustainable shareholder value. We look forward to continuing this momentum into 2025. With stronger profitability, we will further invest in our ecosystem and collaborate with financial partners to make vehicle ownership more accessible for everyone,” Eric Cheng, Co-founder and Group CEO of CARSOME, said.
