Carousell Pte, a Singapore-based online classifieds marketplace operator, raised $100 million in a round led by South Korean private equity firm STIC Investments.
The investment brings Carousell’s valuation to $1.1 billion, according to a statement from the company on Wednesday.
Carousell is joining a growing list of unicorns, or private companies valued at more than $1 billion, in Singapore. The startup was founded in 2012 and now counts Telenor Group, Rakuten Ventures, Naver, and Sequoia Capital India among its backers. The marketplace has since expanded to eight markets across Southeast Asia, Taiwan and Hong Kong, allowing users to buy and sell a diverse range of products including cars, lifestyle, gadgets and fashion accessories.