CARSOME secures RM100 million financing facility from AmBank, the largest for the group

CARSOME Group, which has become Southeast Asia’s largest integrated car e-commerce platform since its 2015 inception, has secured RM100 million in financing facility from AmBank Group to expand its liquidity and bolster its capacity for future growth.

The RM100 million financing facility secured from AmBank Group will significantly enhancing their capacity to grow and innovate, enabling CARSOME to extend its reach, enhance its services, and drive sustained growth, reinforcing its commitment to delivering exceptional value across all facets of its operations, further accelerating different stages of the used car trading process and offering a comprehensive, hassle-free experience to its customers.

AmBank's commitment to supporting CARSOME underscores the bank’s dedication to fostering the growth of forward-thinking businesses and driving the evolution of the automotive industry in the region.

Eric Cheng, CARSOME Group’s Co-Founder, Chairman, and Chief Executive Officer said, “We are thrilled to partner with AmBank, marking a pivotal moment in our journey to revolutionize the automotive industry. A financing facility at this scale is a strong validation of CARSOME’s business model and allows us to enhance CARSOME Group’s overall financing capabilities,”

“It also underscores our commitment to providing accessible solutions for our customers and elevating the car ownership experience. Through CARSOME Capital, we will leverage this partnership to further expand our service offerings, broadening our impact and continuing to innovate in the automotive ecosystem across Southeast Asia,” he said.

Christopher Yap, Managing Director, Business Banking, AmBank Group, adds that “AmBank is pleased to support CARSOME’s remarkable growth and innovation in providing end-to-end solutions for customers. Their exemplary track record in the used car market makes us proud to partner with them in revolutionising Malaysia’s automotive ecosystem,"

"With their strong brand equity, financial standing, and extensive customer base, we look forward to seeing how this collaboration can further fortify CARSOME Capital's operations and prospects. We hope to continue to expand opportunities with CARSOME in the coming years."