- Carsome reports record Q2 revenue
- New financing partnerships pave way for Southeast Asian expansion
- Southeast Asian expansion accelerates
Pedal to the Metal
Southeast Asia’s car e-commerce giant, Carsome, has shifted into high gear.
The company reported a stellar Q2 2024, trading approximately 35,000 vehicles and boosting revenue to over $310 million – a 9% quarter-on-quarter increase.
Profitability in the Driver’s Seat
Despite challenging market conditions, Carsome maintained its profitable growth trajectory.
The company achieved a gross margin exceeding 10% and saw its EBITDA triple compared to the previous quarter.
New Financing Partnerships
Carsome isn’t just coasting on its success. The company announced partnerships with Ambank Group and Maybank, securing over MYR200 million ($46.24 million) in new working capital.
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These funds will fuel Carsome’s ambitious expansion plans across Southeast Asia.
