{"id":2556,"date":"2021-09-02T03:01:54","date_gmt":"2021-09-02T03:01:54","guid":{"rendered":"https:\/\/dailymarkup.com\/?p=2556"},"modified":"2021-09-03T06:55:14","modified_gmt":"2021-09-03T06:55:14","slug":"daily-markup-326-carsome-boosted-by-us170m-funding-eyes-us-listing-homage-raises-us26-6m-for-on-demand-care-yas-microinsurance-lands-pre-series-a-funding-for-inclusive-protection-starting-from","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=2556","title":{"rendered":"Daily Markup #326: Carsome boosted by US$170M funding, eyes US listing; YAS MicroInsurance lands funding for inclusive protection starting from US$0.50"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/vGr4kjVA5J7rURB0U_pMhXaHl25FYekTRpMfvWfNde6ud-YVsIcTGCsB8Jgg4vCLMEbbLYJ9nebiB_vB3UB1YZs36aCVID3C4yqfFm1e3iKD3SSgPs84M2eKktpC-I80ivLRbq6y=s0\" alt=\"\"\/><figcaption>Credit: Carsome<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>All geared up<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>With a valuation of US$1.3 billion, 500-backed <a href=\"https:\/\/www.carsome.my\/\">Carsome<\/a> has cemented its status as <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-13\/malaysia-s-carsome-turns-unicorn-in-deal-to-buy-icar-stake\">Malaysia\u2019s largest tech unicorn<\/a>. The startup announced it has <a href=\"https:\/\/www.forbes.com\/sites\/zinnialee\/2021\/09\/01\/malaysias-carsome-reaches-13-billion-valuation-in-funding-round-from-mediatek-and-others\/?sh=67bb31f37a3c\">raised US$170 million<\/a>, with participation from Taiwanese chipmaker MediaTek.<\/li><li>Carsome also secured new credit facilities of US$30 million. It will use the funds to fuel its plan of acquisitions. This year, it acquired stakes in a <a href=\"https:\/\/www.digitalnewsasia.com\/startups\/carsome-invests-indonesia-car-auction-firm-pt-universal-collection\">Jakarta-based car and motorcycle auction company<\/a> and <a href=\"https:\/\/techcrunch.com\/2021\/07\/12\/carsome-group-will-acquire-icar-asia-in-a-deal-worth-200m\/\">Australia-listed iCar Asia<\/a>.<\/li><li>Chief financial officer Juliet Zhu revealed that the startup is considering <a href=\"https:\/\/www.theedgemarkets.com\/article\/malaysias-carsome-raises-us170-million-reach-us13-billion-valuation\">going public in the United States<\/a> in the next 12 months.<\/li><li>Meanwhile, Carsome is aiming to boost its revenue to nearly US$1 billion this year, making it profitable on an operating level in 2022.<\/li><li>Read the full story on Forbes <a href=\"https:\/\/www.forbes.com\/sites\/zinnialee\/2021\/09\/01\/malaysias-carsome-reaches-13-billion-valuation-in-funding-round-from-mediatek-and-others\/?sh=67bb31f37a3c\">here<\/a>.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/HX5K_uSTknUXmTpnz577EULIksQo4cAeRcYDeHdXXI7jsj3lr5NK77mZpmRGs4saaUmKxM7cLgOyBeb6UcW6IkQkS22oEnS_4FFGoq_8SCfXJvBci7ufBsBwNOmu02TMQ4eUYzaZ=s0\" alt=\"\"\/><figcaption>Credit: <a href=\"https:\/\/unsplash.com\/@weirdhkgirl?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Weird HK Girl .<\/a> on<a href=\"https:\/\/unsplash.com\/s\/photos\/hong-kong-train?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\"> Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Protection against the odds<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>In Hong Kong, <a href=\"https:\/\/finance.yahoo.com\/news\/yas-microinsurance-raises-pre-series-025400452.html\">YAS MicroInsurance<\/a>, an insurtech startup, announced it partnered with and <a href=\"https:\/\/finance.yahoo.com\/news\/yas-microinsurance-raises-pre-series-025400452.html\">closed a pre-series A funding round<\/a> led by 500 Startups.<\/li><li>The new investment will be used to strengthen the 500-backed startup\u2019s research and development capabilities and accelerate its expansion in the Southeast Asia market.<\/li><li>In recent months, YAS launched <a href=\"https:\/\/micro-insurance.yas.com.hk\/en\/ryde-with-yas\/\">RYDE with YAS<\/a>, an in-app, on-demand 90-minute passenger coverage for a wide range of public and private transportation, including ride-shares. It also launched <a href=\"https:\/\/micro-insurance.yas.com.hk\/en\/bus-ryde\/\">BUS RYDE<\/a> in collaboration with Hong Kong\u2019s largest bus company to offer coverage for its monthly pass holders.<\/li><li>Led by its core belief that every person and moment matters, the startup\u2019s products are developed with financial inclusion in mind. Its coverage services start from as low as US$0.50 per trip.<\/li><li>Read the full article on Yahoo! Finance <a href=\"https:\/\/finance.yahoo.com\/news\/yas-microinsurance-raises-pre-series-025400452.html\">here<\/a>.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>All geared up With a valuation of US$1.3 billion, 500-backed Carsome has cemented its status as Malaysia\u2019s largest tech unicorn. The startup announced it has raised US$170 million, with participation from Taiwanese chipmaker MediaTek. Carsome also secured new credit facilities of US$30 million. It will use the funds to fuel its plan of acquisitions. This [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":2560,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[341,466],"class_list":["post-2556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-carsome","tag-yas"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #326: Carsome boosted by US$170M funding, eyes US listing; YAS MicroInsurance lands funding for inclusive protection starting from US$0.50 - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=2556\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #326: Carsome boosted by US$170M funding, eyes US listing; YAS MicroInsurance lands funding for inclusive protection starting from US$0.50 - Markup\" \/>\n<meta property=\"og:description\" content=\"All geared up With a valuation of US$1.3 billion, 500-backed Carsome has cemented its status as Malaysia\u2019s largest tech unicorn. The startup announced it has raised US$170 million, with participation from Taiwanese chipmaker MediaTek. Carsome also secured new credit facilities of US$30 million. It will use the funds to fuel its plan of acquisitions. 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