From left: AmBank Group head of commercial banking, business banking Patrick Chin, AmBank business banking managing director Christopher Yap, Carsome co-founder, chairman and group CEO Eric Cheng and Carsome Capital Malaysia managing director Nicholas Wong.
KUALA LUMPUR: Carsome Group has secured a RM100mil financing facility from AmBank Group to enhance liquidity and bolster its capacity for future growth.
In a joint statement, it said the RM100mil financing facility secured from AmBank Group will empower Carsome, significantly enhancing its capacity to grow and innovate.
The funding will enable the integrated car e-commerce platform to extend its reach, enhance its services, and drive sustained growth, reinforcing its commitment to delivering exceptional value across all facets of its operations.
“AmBank is pleased to support Carsome’s remarkable growth and innovation in providing end-to-end solutions for customers. Their exemplary track record in the used car market makes us proud to partner with them in revolutionising Malaysia’s automotive ecosystem.
“With their strong brand equity, financial standing, and extensive customer base, we look forward to seeing how this collaboration can further fortify Carsome Capital's operations and prospects. We hope to continue to expand opportunities with Carsome in the coming years,” AmBank Group business banking managing director Christopher Yap said.
Meanwhile, Carsome co-founder, chairman and chief executive officer Eric Cheng said a financing facility at this scale strongly validates its business model and enhances its overall financing capabilities.
“It also underscores our commitment to providing accessible solutions for our customers and elevating the car ownership experience. Through Carsome Capital, we will leverage this partnership to further expand our service offerings, broadening our impact and continuing to innovate in the automotive ecosystem across Southeast Asia,” he added.
