KUALA LUMPUR: Southeast Asia’s largest integrated car e-commerce platform, Carsome Group, has secured RM100 million in financing facility from AmBank Group to expand its liquidity and bolster its capacity for future growth.
The RM100 million financing facility secured from AmBank Group will empower Carsome, significantly enhancing its capacity to grow and innovate.
This substantial funding will also enable Carsome to extend its reach, enhance its services, and drive sustained growth, reinforcing its commitment to delivering exceptional value across all facets of its operations.
Carsome Group co-founder, chairman and CEO Eric Cheng said a financing facility at this scale strongly validates Carsome’s business model and allows us to enhance the company’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 expand our service offerings further, broaden our impact, and continue innovating in the Southeast Asian automotive ecosystem,“ he said in a statement.
With AmBank’s support, Carsome will further accelerate different stages of the used car trading process, offering its customers a comprehensive experience.
AmBank Group managing director of business banking Christopher Yap said Carsome’s impressive success in the used car market led us to partner in transforming Malaysia’s automotive industry.
“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,“ he said.
AmBank’s commitment to supporting Carsome underscores the bank’s dedication to fostering the growth of forward-thinking businesses and driving the evolution of the automotive industry in the region.
Established in 2015, Carsome has made rapid business progress and is now Southeast Asia’s largest integrated car e-commerce platform.
Carsome’s end-to-end ecosystem has significantly expanded through its comprehensive suite of services, including car inspections, sales, financing, and after-sales support.
