In today’s briefing:
- Carro Sees Profitability, Doubles Revenue to $464m
- Glints Bags $50m Series D Funding After Doubling Revenue and Gross Profits
- Jet Commerce Raises US$60M for Brazil and Singapore Expansion, to Further Scale up in China
- Jungle Ventures Leads Vietnamese Insurtech Startup Medici’s Series A Round
Carro Sees Profitability, Doubles Revenue to $464m
Singapore-based Carro more than doubled its revenue in its latest financial year, raking in more than S$650 million (US$464.2 million) in revenue.
- The used-car platform, which also achieved profitability in FY 2021, said it is tracking at over US$930 million in run-rate revenue. It expects to see another 2x growth in revenue for FY 2023.
- Aaron Tan, co-founder and CEO of Carro, attributed the firm’s profitability to its focus on online retailing and machine learning.
Glints Bags $50m Series D Funding After Doubling Revenue and Gross Profits
- Glints, a Singapore-based careers platform, has raised US$50 million in a series D funding round co-led by DCM Ventures, Lavender Hill Capital, and Persol Holdings.
- The deal pushed the firm’s total funding to date to more than US$80 million, making it the most funded startup in Southeast Asia’s talent recruitment space.
- Glints connects companies to talent pools in Indonesia, Malaysia, Singapore, Vietnam, the Philippines, and Taiwan
Jet Commerce Raises US$60M for Brazil and Singapore Expansion, to Further Scale up in China
- Jet Commerce launched a Live Commerce service through its newest business unit, Lumbalumba, last July and inaugurated its live streaming centre
- Indonesia-based e-commerce enabler, Jet Commerce, has announced the completion of its Series B funding round of more than US$60 million (IDR 900 billion).
- Jet Commerce will use the funds to upgrade infrastructure, recruit more professional local talent, improve research and technology development, and strengthen its ability in brand incubation.
Jungle Ventures Leads Vietnamese Insurtech Startup Medici’s Series A Round
Iinsurance startup Medici claims it has hit double-digit m-o-m growth and has 35+ branches across almost 40 provinces.
- Vietnamese healthtech and insurance startup Medici has received an undisclosed sum in a Series A round led by existing backer Jungle Ventures.
- The company will use the money to improve its technology infrastructure to capture the tremendous growth opportunity of Vietnam’s insurance and healthcare market.
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