SINGAPORE — Singapore-based community marketplace Carousell announced yesterday that it has acquired fellow Singapore startup Caarly — a mobile-first productivity tool that makes it easier for used car dealerships to manage their inventory.

Carousell, which was launched in May 2012, has been intensifying its efforts to become the world’s No 1 classifieds marketplace.

The Caarly acquisition comes slightly more than a month after it acquired personal safety app WatchOverMe and its entire engineering team in an acquihire deal.

“Carousell has grown over the last 4.5 years, and so have our users. Over 50 per cent of them in Singapore are now over 25 years old, and have significantly more purchasing power,” said Mr Siu Rui Quek, co-founder and CEO of Carousell.

“We’ve seen how their evolving needs have resulted in more listings and greater demand in higher value verticals like cars. This acquisition allows us to tap on Caarly’s relationships with car dealers, to give users the widest selection of cars on a classifieds marketplace beginning in Singapore and throughout Apac (the Asia-Pacific) soon after.”

Caarly, launched in 2014, is a partner to more than 200 car dealers, which make up a significant proportion of such dealerships in Singapore.

Carousell says that the acquisition will simplify the online buying and selling experience for users, by making it easier for car dealers and individual sellers with a smartphone to snap, list and sell in just 30 seconds.

Existing Caarly partners can continue to use the Caarly platform to list their inventory and cross post to the cars category on the Carousell marketplace.

As part of the acquisition, the full Caarly team — as well as all relevant automotive products — will also be transferred to Carousell.

“This acquisition makes Carousell the best place for users to find exactly what they need when they’re looking for a new or pre-loved car, and also paves the way for our monetisiation strategy as high value verticals will be a key revenue driver for us.”