Carousell, the social commerce startup, is currently trying to raise $50 million in Series B round of funding to expand its business across Asia.
Founded in 2012 and based in Singapore, Carousell is consumer-to-consumer marketplace app for iOS and Android which is much like Craiglist for mobile phones. Users post items that are for sale, the interested buyers initiate conversation to finalize a price, payment and delivery of goods. “Snap to Sell, Chat to Buy” is the tagline of the company which emphasis the focus on social commerce made easy.
The Carousell service is available in Singapore, Indonesia and Taiwan where it can be accessed through iOS and Android app and through the website. It has been almost a year since the last funding round which is Series A led by Sequoia and so it is more obvious that the next round of funding could happen anytime soon.
The new fund-raising has been planned for business expansion. Though the areas of expansion is not very clear, it is expected to be markets in Southeast Asia like Malaysia, Thailand and the Philippines are likely to be on the top of the list.