33 Eric Cheng

Carsales Made Sim­ple

Prestige (Malaysia) - - Hublot -

Orig­i­nally a price com­par­i­son site for au­to­mo­biles in 2015, Car­some trans­formed into a mar­ket­place for used ve­hi­cles within six months of the launch. “We saw the pain points the in­dus­try was fac­ing and turned that into an op­por­tu­nity to launch our busi­ness,” co-founder and CEO Eric Cheng says, cit­ing that the tim­ing was right for them. The change in fo­cus en­ables con­sumers to eas­ily off­load their ve­hi­cles and deal­ers to pick up used ve­hi­cles via its web­site Car­some.my. It pro­vides the plat­form. It boasts a team of pro­fes­sion­als to in­spect a ve­hi­cle’s con­di­tion, who can even be dis­patched to in­spect at your home. You may put your ve­hi­cle up for auc­tion and used car deal­ers will bid for your ve­hi­cle. That is unique to Car­some.

“We are rein­vent­ing the whole car trad­ing ex­pe­ri­ence by pro­vid­ing an end-to-end so­lu­tion to con­sumers and deal­ers,” Eric says. In­vestors and ven­ture cap­i­tal­ists con­curred and have chipped in for the start-up’s ex­pan­sion. Its se­ries-B fund­ing round raised US$19 mil­lion ear­lier this year, which will be used to strengthen its pres­ence in In­done­sia and Thai­land. One of the in­vestors hap­pened to be Burda Prin­ci­pal In­vest­ments.

Mean­while, Car­some has grown by leaps and bounds. It has se­cured more than 3,200 par­tic­i­pat­ing deal­ers, sold more than 16,000 ve­hi­cles and re­ceived over 450,000 bids. To sup­port its op­er­a­tion, the start-up has scaled up­wards from hav­ing only five em­ploy­ees to now 300 spread across four coun­tries. “It has not been an easy feat,” Eric says. “But we man­age to achieve that with a strong lead­er­ship team.”

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