CarDekho SEA secures $60 million in first external funding round to expand in Southeast Asia

CarDekho SEA, an auto financing platform based in Singapore, has raised $60 million in its first external funding round, valuing the company at over $300 million. The investment comes from Navis Capital Partners and Dragon Fund, following a $40 million investment from its parent company. The company plans to use the new funds to expand its operations in Southeast Asia, particularly in Indonesia and the Philippines. Co-founder Umang Kumar indicated that acquisitions of used car financing or insurance platforms could be part of their growth strategy. Since its launch in 2020, CarDekho SEA has grown significantly, with over 200,000 loans disbursed and partnerships with more than 50 financiers. The company aims to connect small-scale used car dealers with financial products, enhancing access to financing in the region.