Founded Year

2012

Stage

Corporate Minority - IV | Alive

Total Raised

$445.8M

Last Raised

$2.8M | 2 yrs ago

Revenue

$0000 

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

-84 points in the past 30 days

About Carousell

Carousell provides a community marketplace and classifieds platform. Its platform allows users to take photos of their pre-owned or new items, list them on Carousell, and then sell them. It permits users to buy and sell fashion, beauty products, headphones, computers, furniture, books, luxury goods, cars, bikes, houses, home services, and more. The company was founded in 2012 and is based in Singapore.

Headquarters Location

240 Tanjong Pagar Road Suite 12-00

088540,

Singapore

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ESPs containing Carousell

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Consumer & Retail / Fashion Tech

The peer-to-peer fashion resale marketplace market offers a dynamic platform for individuals to buy and sell pre-owned fashion items directly. These marketplaces provide an eco-friendly and cost-effective way for consumers to extend the lifecycle of their clothing and accessories. The market facilitates direct interactions between buyers and sellers, fostering a sense of community and trust. Busin…

Carousell named as Leader among 15 other companies, including eBay, Vestiaire Collective, and Mercari.

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Expert Collections containing Carousell

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Carousell is included in 3 Expert Collections, including E-Commerce.

E

E-Commerce

11,710 items

Companies that sell goods online (B2C), or enable the selling of goods online via tech solutions (B2B).

U

Unicorns- Billion Dollar Startups

1,276 items

T

Tech IPO Pipeline

257 items

The tech companies we think could hit the public markets next, according to CB Insights data.

Latest Carousell News

After stepping back from Carousell, co-founder Lucas Ngoo reveals his new biz focus: AI

May 30, 2025

Angelynn Tan 30 May 2025 About a year ago, Carousell co-founder Lucas Ngoo announced that he would be stepping down from the company’s day-to-day operations, citing personal reasons for his departure. He also announced his desire to explore new areas of innovation and deepen his understanding of other industries, including artificial intelligence (AI). Now, it seems like the entrepreneur’s ambitions in AI are taking flight. In a LinkedIn post about a week ago, Ngoo revealed his two latest startups: Caresense.ai, a personal health assistant, as well as an unnamed startup that aims to train robots to help with daily tasks in manufacturing industries. Here’s what we know so far about the Carousell co-founder’s latest enterprises. An AI-powered digital health assistant Through CareSense.ai, Ngoo aims to create a platform that leverages AI to provide personalised health coaching. Image Credit: Caresense.ai At the core of this effort is Mandy, an AI-powered digital companion that users can access via the Caresense.ai app or directly through WhatsApp integration. Mandy concentrates on what Ngoo called the “four pillars of lifestyle behaviour,” namely sleep, stress, diet, and exercise. A lot of diseases can be prevented if you just take care of your diet, take care of your exercise, sleep, and your stress… And a lot of these things are behavioural changes. That’s where AI can come in. Users can opt to link the Caresense.ai app with Apple Health or Google Fit to track their lifestyle habits. Among other features, they can also send pictures of their food for nutritional analysis or snap a photograph of their treadmill display to log a workout, saving them the hassle of manually calculating their caloric changes. Ngoo said that there has been progress in his new company, where paying-enterprise clients like Singapore-based Surbana Jurong group were among his first few customers. For corporate customers, CareSense.ai also offers a subscription model, bundling Mandy with corporate health screening packages. Currently, Ngoo shared that the AI health startup is “in the process of raising a seed round.” He plans to utilise the capital to expand his team, which brings together AI engineers and healthcare professionals, including health coaches and cardiologists. Ngoo also talked of future plans to scale its user acquisition efforts and expand into new Southeast Asian markets such as Kuala Lumpur and Hong Kong. The company’s first priority, though, is to work closely with companies to scale and improve their wellness programmes. AI in robotics Ngoo’s second startup, which focuses on the field of general-purpose robotics, is still in the making. While he did not reveal many details, he shared that his vision for the startup is not to reinvent robotic hardware from scratch, but to create “a general-purpose [AI] model that you can put into a robot”. This, he claimed, would allow businesses to teach humanoid robots new tasks without massive reinvestment. Ngoo aims to implement this solution across warehouses, logistics, and manufacturing to help with real-world tasks, starting in Southeast Asia. Although just about a month old at the time of writing, the startup is already incorporated and has begun training its foundational models. According to Ngoo, the company’s immediate priority is now is “to build our first use case […] have a model that we collect data, we fine-tune, we put into a robot, and then we can solve a task.” “It’s still early—lots to build and learn—but I’m excited about what’s ahead.” Addressing pressing issues with AI Image Credit: Lucas Ngoo via LinkedIn 13 years ago, Ngoo founded Carousell together with his friends, Marcus Tan and Quek Siu Rui. The company maintains a strong presence across seven markets through its brands—Carousell, Cho Tot, Laku6, Mudah.my, OneShift, and Refash—reportedly serving tens of millions of active users. Ngoo initially led and developed Carousell’s Tech function, before collaborating with various business and engineering teams across the Carousell Group to pilot recommerce initiatives and establish the company’s automotive recommerce business in Malaysia. In an interview with TechinAsia , Ngoo said that when he and his co-founders started the company in 2011, many firms were looking for areas where tech could fill existing gaps. He cited Apple’s iPhone as an example—it was the first cellular phone that let users do more than call and text. The founder sees similar potential with AI, which he believes can address pressing issues like labour shortages for dangerous or mundane jobs, or the advanced age of the workers in these roles. After running Carousell for over a decade, Ngoo believes he’s now ready to pursue missions where AI can “truly change lives” through his two new startups in healthcare and robotics. He shared that his experience has better equipped him to recognise and address the evolving needs of a startup at each stage. His background, he believes, also positions him to manage the demands of running two ventures simultaneously—though there are those who question whether he is taking on too much at once. In addition, healthtech and robotics are also vastly different from Carousell’s core business. It remains to be seen whether Ngoo’s experience in building a marketplace platform will translate to success in these new ventures. Read other articles we’ve written on Singaporean startups here .

Carousell Frequently Asked Questions (FAQ)

  • When was Carousell founded?

    Carousell was founded in 2012.

  • What is Carousell's latest funding round?

    Carousell's latest funding round is Corporate Minority - IV.

  • How much did Carousell raise?

    Carousell raised a total of $445.8M.

  • Who are the investors of Carousell?

    Investors of Carousell include GoTo, Heliconia Capital Management, STIC Investments, NH Investment & Securities, Mirae Asset Financial Group and 14 more.

  • Who are Carousell's competitors?

    Competitors of Carousell include Wallapop, Carsome, PopChill, Letgo, Poshmark and 7 more.

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Compare Carousell to Competitors

Vinted Logo
Vinted

Vinted serves as an online marketplace that focuses on second-hand fashion and lifestyle items within the e-commerce sector. The company enables individuals to buy and sell pre-owned clothing, accessories, and other lifestyle products, facilitating a sustainable cycle of fashion reuse. It was founded in 2008 and is based in Vilnius, Lithuania.

Wallapop Logo
Wallapop

Wallapop offers an online classifieds platform for local buying and selling. The platform allows users to sell and discover secondhand goods and services in their vicinity. Its services are designed for individuals interested in peer-to-peer trading. The company was founded in 2013 and is based in Barcelona, Spain.

Rebag Logo
Rebag

Rebag is an e-commerce company that specializes in the resale of luxury goods within the secondary market. The company offers a platform for buying and selling designer handbags, watches, jewelry, and accessories, providing upfront payment and a streamlined resale experience. Rebag primarily serves consumers interested in sustainable and affordable luxury ownership. Rebag was formerly known as Rebagg. It was founded in 2014 and is based in New York, New York.

OfferUp Logo
OfferUp

OfferUp is a mobile commerce platform that facilitates local buying and selling of goods. The company provides a marketplace for users to list and purchase items ranging from electronics to vehicles and furniture. OfferUp primarily serves individual consumers looking to buy or sell secondhand items within their community. OfferUp was formerly known as iDeal Technologies. It was founded in 2011 and is based in Bellevue, Washington.

GoTrendier Logo
GoTrendier

GoTrendier is a platform that focuses on the resale of second-hand clothing and fashion items across various categories. The company provides an online marketplace where individuals can buy and sell pre-owned apparel for women, men, and children, as well as fashion accessories from popular brands. GoTrendier primarily serves the fashion-conscious consumers looking for designer brands and affordable clothing options. It was founded in 2016 and is based in Cuauhtemoc, Mexico.

LePrix Logo
LePrix

LePrix is a B2B platform for wholesale sourcing of pre-owned luxury goods in the luxury resale industry. The company operates a marketplace for authenticated, pre-owned luxury items, granting businesses access to inventory from global suppliers. LePrix provides services such as fulfillment, data analytics, and authenticity verification to support enterprise accounts. LePrix was formerly known as SnobSwap. It was founded in 2013 and is based in Arlington, Virginia.

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