Japanese investors back Southeast Asia's second-hand car market

Carsome, a second-hand car trading platform, said that it had completed its Series C fundraising on Thursday, adding to the exposure of Japanese conglomerates in Southeast Asia's internet economy.

The fundraising round totalled around $50 million. Japan’s MUFG Innovation Partners and Daiwa PI Partners participated in the investment. Endeavor Catalyst, Ondine Capital and existing investors Gobi Partners, Convergence Ventures joined the round as well.

The interest of Japanese investors has shifted from China to Southeast Asia. In 2017 and 2018, Thailand and Indonesia saw a significant increase in Japanese investments in the automotive sector. They are also the largest investors in infrastructure in Southeast Asia,...