# iCar Asia

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/icar-asia

- Industry: Internet
- Headquarters: Kuala Lumpur, Malaysia
- Website: www.icarasia.com
- Latest round: Seed (Mar 1, 2012)
- Investors on record: 1

## About

iCar Asia Limited operates as a digital platform that connects buyers and sellers of new and used vehicles across Southeast Asia, providing comprehensive vehicle listings and advertising services.Founded in 2012 and headquartered in Kuala Lumpur, Malaysia, iCar Asia Limited serves as a platform for vehicle transactions in Southeast Asia. The company was acquired by Carsome Sdn. Bhd. in February 2022 for approximately USD 200 million. Founder Ilya Bozhych has a history in the automotive sector, contributing to the establishment of this digital service.iCar Asia primarily offers a comprehensive online platform that facilitates the buying, selling, and learning about both new and used vehicles. Their core product offerings include an extensive vehicle listing service, which features over 400,000 new and used car listings monthly, and a robust advertising network designed to connect automotive dealers with potential customers. The platform serves a diverse client base that includes individual car buyers, vehicle sellers, and automotive dealers across Malaysia, Indonesia, and Thailand. By establishing a user-friendly interface, iCar Asia aims to streamline the automotive journey for its users, enabling efficient transactions and informed decision-making. This platform has been instrumental in addressing the needs of automotive consumers in Southeast Asia, responding to market demands since its inception.In 2022, iCar Asia reported revenues of USD 5,638,484.70 and an EBITDA of USD 743,869.40. Revenue is generated through subscriptions and partnerships with automotive dealers, providing a platform for dealerships to list their vehicles and create a direct link between sellers and potential buyers. With over 900,000 leads directed to dealers on a monthly basis, the company’s strategic model reflects a commitment to creating value for both consumers and automotive businesses.iCar Asia's strategic focus includes the launch of new product features aimed at enhancing user experience within the next 12 months. The company plans to expand its services into additional markets within Southeast Asia, aiming for entry into Vietnam by late 2023. The recent funding round of USD 19.00 mn will support these initiatives, with a focus on technological advancements and market penetration strategies to increase its competitive presence.

## Funding rounds

- Seed, Mar 1, 2012 — Catcha Group

## Investors

- Catcha Group (https://capitalatlas.ai/funds/catcha-group) — Seed