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flag Carro raised $60 million to expand its used and hybrid car sales across Asia, backed by Japan’s Cool Japan Fund.

flag Carro, Asia Pacific's largest online used car marketplace, has raised $60 million led by Japan's Cool Japan Fund to boost demand for Japanese cars, especially used vehicles and plug-in hybrids, across the region. flag The investment supports Carro’s expansion in seven markets, including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, Japan, and Taiwan, with plans to enter Australia and make several acquisitions. flag Growth is expected due to rising middle-income populations, economic expansion, and government EV subsidies in countries like Indonesia and Thailand. flag Carro, founded in 2013, transacts over 100,000 vehicles annually and offers financing, insurance, and after-sales services. flag The Cool Japan Fund, a government-backed investment vehicle, aims to expand Japan’s global product and service presence.

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