When was Carousell founded?

Carousell was founded in 2012 and became a unicorn in 2021, reaching the milestone in 9 years. It raised its 1st funding round 1 year after its incorporation.

Where is Carousell located?

Carousell is headquartered in Singapore, Singapore.

Who is the current CEO of Carousell?

Siu Rui Quek of Carousell. They have also founded 1 company and are angel investors in 2 startups.

Which legal entities is Carousell associated with?

Carousell is associated with CAROUSELL PTE. LTD. and 2 others.

How many employees does Carousell have?

As of May 31, 2026, the latest employee count at Carousell is 1232.

Is Carousell a funded company?

Carousell is a funded company, having raised a total of $376M across 9 funding rounds to date. The company's 1st funding round was a $800K Seed round, raised on Nov 13, 2013.

How much is Carousell worth?

The latest valuation of Carousell is $1.1B as of Sep 15, 2021.

When was the latest funding round of Carousell?

Carousell's latest funding was a $2.8M Series E round on Sep 04, 2023, with participation from 1 investor.

What is the annual revenue of Carousell?

Annual revenue of Carousell is between $100M and $500M as on Dec 31, 2023

Is Carousell a Horizontal E-Commerce company?

The primary sector of Carousell is Horizontal E-Commerce.

Where does Carousell rank among its competitors?

Carousell ranks 1st amongst 113 active competitors, of which 11 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was IPF, which secured $375K in Dec, 2025.

Who are the top competitors of Carousell?

Carousell's top competitors include 58City, Mapan and OLX. Among them, IPF secured the most recent funding round in December, 2025.

Carousell - 2026 Company Profile, Team, Funding, Competitors & Financials

Carousell is a series E company based in Singapore (Singapore), founded in 2012 by Siu Rui Quek, Ngoo Cheng Han and Lucas Ngoo. It operates as an Online marketplace platform offering multi-category second-hand products. Carousell has raised $376M in funding from investors like Rakuten, EDBI and NAVER, with a current valuation of $1.1B. The company has 113 active competitors, including 11 funded and 5 that have exited. Its top competitors include companies like 58City, Mapan and OLX.

Sectors and market segments that Carousell operate in

Carousell serves in the Retail market segments.The primary business model of Carousell is:

Retail > Horizontal E-Commerce > ***** **** > ***** ******

Company Details

Online marketplace platform offering multi-category second-hand products. The product catalog includes fashion, stationery, gadgets, home appliances, furniture, food supplies, pet supplies, sports equipment, and more. It also provides job, home services, lifestyle services, and more. The application is available on both iOS and Android platforms.

Website: carousell.sg
Social
Email ID: *****@thecarouselll.com, *****@thecarousell.com

Key Metrics

Founded Year

2012

Location

Singapore, Singapore

Stage

Series E

Total Funding

$376M in 9 rounds

Latest Funding Round

Series E, Sep 04, 2023, $2.8M

Post Money Valuation

$1.1B as on Sep 15, 2021

Investors

Rakuten & 21 more

Ranked

1^st among 113 active competitors

Annual Revenue

$100M - $500M as on Dec 31, 2023

Employee Count

1,232 as on May 31, 2026

Investment & Acquisitions

LuxLexicon & 7 more

Similar Companies

Mercari & 312 more

View Carousell's full profile

Carousell is associated with 3 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
CAROUSELL PTE. LTD CIN: 201300296D , Singapore, Active	Dec 31, 2012	$100M - $500M (As on Dec 31, 2023)	-
CAROUSELL TECHNOLOGY PRIVATE LIMITED CIN: U72900KA2019FTC122987 , India, Active	Mar 30, 2019	₹50 - ₹100 Cr (As on Mar 31, 2025)	-
CAROUSELL PTE. LTD. CIN: 201300296D , Vanuatu, Active	Dec 31, 2013	-	-	-

Carousell has raised a total funding of $376M over 9 rounds. Its first funding round was on Nov 13, 2013. Its latest funding round was a Series E round on Sep 04, 2023 for $2.8M. 1 investor participated in its latest round. Carousell has 20 institutional investors and 2 angel investors.

Here is the list of recent funding rounds of Carousell:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Sep 04, 2023	$2.8M	Series E	-	-	GoTo Group	-
Nov 11, 2021	$10M	Series E	-	-	Heliconia Capital Management	-
Sep 15, 2021	$100M	Series E	$1.1B	21.2x	STIC Investments	-

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View details of Carousell's funding rounds and investors

The founders of Carousell are Siu Rui Quek, Ngoo Cheng Han and Lucas Ngoo. Siu Rui Quek is the CEO of Carousell.

Here are the details of Carousell's key team members:

Siu Rui Quek: Co-Founder & CEO of Carousell and founder of 1 other company. They are also an angel investor in 2 startups and serve on the board of 1 company.
Ngoo Cheng Han: Co-Founder of Carousell.
Lucas Ngoo: Co-Founder of Carousell and founder of 1 other company.

Carousell's Board of Directors

Carousell's board has 7 active members. Siu Rui Quek, Ngoo Cheng Han and Marcus Tan are part of team and Singh Shailendra Jit, Lars Erik Tellmann, Na Minhyung and Carl Peter Severin are independent board members.

Here is the list of Carousell's board of directors:

Name	Type	Representing	Status	Duration
Siu Rui Quek	Team	-	Current	13y 6m
Ngoo Cheng Han	Team	-	Current	13y 6m
Marcus Tan	Team	-	Current	13y 6m
Singh Shailendra Jit	Independent board member	-	Current	11y 10m
Lars Erik Tellmann	Independent board member	-	Current	6y 3m
Na Minhyung	Independent board member	-	Current	5y 10m
Carl Peter Severin	Independent board member	-	Current	5y 5m
Aditya Swarup	Independent board member	-	Past	0y 0m
Dilip Pal	Independent board member	-	Past	1y 2m
Svein Henning Kirkeng	Independent board member	-	Past	0y 4m
Wong Kean Loon Gene	Independent board member	-	Past	1y 6m
Sjoerd Antonius Gerardus Nikkelen	Independent board member	-	Past	0y 7m

View details of Carousell's Founder profiles and Board Members

Carousell's employee count trend

Carousell has 1,232 employees as of May 26. Here is Carousell's employee count trend over the years:

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Top competitors of Carousell include 58City, Mapan and OLX. Here is the list of Top 10 competitors of Carousell, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Carousell 2012, Singapore (Singapore), Series E	Online marketplace platform offering multi-category second-hand products	$376M	EDBI, 500 Global & 20 others	83/100
2nd	58City 2005, Beijing (China), Acquired	Online second-hand listing platform offering multi-category products and services	$141M	Herald Investment Management, Access Industries ... & 12 others	69/100
3rd	Mapan 2009, Jakarta (Indonesia), Acquired	Online reselling platform to buy household products	$15M	Endeavor, Patamar Capital & 10 others	63/100
4th	OLX 2005, Gurugram (India), Acquired	Online listing platform offering second-hand multi-category products	$13.7M	Frontier Car Group, Intudo Ventures & 9 others	63/100
5th	Quikr 2008, Bengaluru (India), Series H	Online platform for second-hand listings and peer-to-peer transactions	$370M	Steadview, Kinnevik & 23 others	55/100
6th	Baixing 2005, Shanghai (China), Public	Online P2P listing platform for multi-category second-hand products	-	Tenaya Capital, Menlo Ventures & 7 others	54/100
7th	Craigslist 1995, San Francisco (United States), Late Stage	Network providing classified advertisements and forums for various categories and needs	-	eBay	50/100
8th	FreeUp 2021, Bengaluru (India), Series A	Marketplace for circular commerce	$785K	Accel, Elevation Capital & 1 others	44/100
9th	DACBY 2021, Gurugram (India), Seed	Retailer of pre-owned gaming consoles cameras and various electronic devices	$151K	India Accelerator, Ratanada Ventures & 7 others	44/100
10th	IPF 2024, Bengaluru (India), Seed	Operator of a peer to peer marketplace for children products	$375K	Titan Capital, Better Capital & 4 others	40/100

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Carousell has made 1 investments in companies including Insider One. Carousell has also acquired 7 companies including LuxLexicon and Laku6.

Here is the list of investments & acquisitions:

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Date of Investment/Acquisition	Type	Company Name	Founded Year	Location
Apr 02, 2024	Acquisition	LuxLexicon	2016	Singapore (Singapore)
Jul 26, 2022	Acquisition	Laku6	2015	Jakarta (Indonesia)
Oct 18, 2021	Acquisition	Ox Street	2019	Singapore (Singapore)