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Carsome raises $50M for its used-car sales platform in Southeast Asia

Carsome, a Malaysia-based marketplace for trading used cars, has closed a new $50 million financing round to fend off its rivals and grow its business in Southeast Asian markets.

Carsome uses an online auction model to conduct sales, with prospective cars typically listed the day after they are submitted by consumers (following a check-up conducted by the startup’s staff).

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