Car classifieds site, Carmudi, whose focus is on emerging markets has announced today that it has raised $25 million to gear up its operations in Africa and several Asian countries.
Thisfunding which is Carmudi’s second, includes Asia Pacific Internet Group (a joint venture between Rocket Internet and Ooredoo), Holtzbrinck Ventures, Tengelmann Ventures, as well as an undisclosed private investor.
Carmudi has raised so far a total of $35 million.
Founded in 2013 the company now operates in 20 countries and will use the funds to expand in seven Asian markets (Bangladesh, Indonesia, Myanmar, Pakistan, the Philippines, Sri Lanka, and Vietnam) as well as Mexico.
The company’s other markets are spread throughout Africa and the Middle East and include Cameroon, Congo, Ghana, Ivory Coast, Nigeria, Qatar, Rwanda, Saudi Arabia, Senegal, Tanzania, the United Arab Emirates, and Zambia.
The site currently has a total of 300,000 listings for vehicles worldwide, and claims five million users a month. Carmudi’s Android apps were rolled out last year, and it launched a iOS version earlier this month.
So far, Carmudi’s mobile apps have been downloaded 300,000 times. Mobile visits now account for about 60 percent to 70 percent of its total traffic, which is important because the company is targeting markets where many users access the Internet primarily through smartphones or tablets.
Carmudi monetizes through listing fees, but is currently focused on expansion and growth, says Haubold.
Rocket Internet has been busy building a network of e-commerce services and marketplaces throughout Southeast Asia and Africa., including many (real estate classifieds platform Lamudi, price comparison site Pricepanda, and car-calling app Easy Taxi).