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CarDekho SEA raises first-ever outside funding, co-founder says he’s interested in acquisitions
CarDekho SEA, a Singapore-based auto financing service platform, has raised $60 million in equity, valuing the company at over $300 million, from Navis
The company’s acquisition spree continues as it acquired Carmudi, which operates in the Philippines, Indonesia, and Thailand, in 2021 to expand into SEA, Kumar explained. CarDekho SEA highlights its edges, including its technology-driven loan procedures, asset-light marketplace approach with no credit risk, an extensive network of used car dealers and agents, and solid collaborations with financial institutions. CarDekho SEA will use AI and machine learning solutions to reduce fraud and credit risks and provide more data to their financing partners to succeed in a changing technological environment.
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