Carsome brews up partnership with Tealive to expand retail presence

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Carsome has tied up with Tealive to set up Carsome Inspection Points at selected Tealive outlets nationwide. While the partnership is not an exclusive one, Carsome's co-founder and group CEO, Eric Cheng said it will enable both companies to leverage each other's expertise and retail presence. Cheng added that the brand will be utilising social media activations and its digital assets to market the partnership.

"Just as Tealive revolutionised the tea culture, Carsome does the same for the car buying and selling experience through trust, transparency, and technology. This strategic partnership is part of our expansion plans to extend our strategic footprint and reach out to more customers while offering even more convenience," Cheng (pictured left) explained.

Similarly, Loob Holding's founder and CEO, Bryan Loo (pictured right) said he hopes this partnership will increase traffic to its outlets and diversify its customers' base while strengthening the brand presence for both brands. "Tealive is excited to be partnering with Carsome as we both are innovative and progressive homegrown brands in our respective fields. Now, our customers can enjoy a refreshing cup of bubble tea while their cars are being inspected," Loo explained.

On the leadership front, the integrated car eCommerce platform has been beefed up its team in Malaysia and Indonesia with new appointments. In Malaysia, Carsome appointed Melanie Mel, former group account director from Ogilvy as its new head of marketing on August 2021. Derek Tan, chief brand officer, told A+M that she will be a strong partner to its business operations in Malaysia, charting new heights for the company.

Meanwhile in Indonesia, Carsome appointed Rowan Suhendy as its head of brand and consumer marketing on May 2021. Suhendy's responsibilities include building Carsome’s brand image, presence, and awareness in Indonesia through all channels and ensuring they align with the brand's corporate image and identity. In his new role, Suhendy reports to Tan and Delly Nugraha, country head of Carsome Indonesia.

Separately, Carsome bagged US$170 million in Series D2 round of funding last month, bringing the company’s valuation to US$1.3 billion. This was complemented by new credit facilities of US$30 million, bringing total funds raised to US$200 million. The latest round aimed to empower its strategic focus on the growth and expansion of its B2C business, as well as boost its capabilities in strategic investments and mergers and acquisitions.

The Series D2 round saw participation from sovereign wealth funds in the region and a pool of new international investors such as the internet group, Catcha Group, and semiconductor company, MediaTek. Existing shareholders such as Asia Partners, Gobi Partners, 500 Southeast Asia, Ondine Capital, MUFG Innovation Partners, Daiwa PI Partners, and among others also participated in the funding.

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