Carma’s US$52 Million Series A Capital Raise

Herbert Smith Freehills has advised Carma on the deal.

Carma raised US$52 million through a Series A capital raise. The round was led by General Catalyst and Tiger Global. 

This new capital will be employed to fund the continued rapid growth and expansion of the company.

Carma is an Australian company that provides a fully digital online used car platform. The company offers a large range of quality pre-owned vehicles at fixed prices, delivered to the home. The quality of each vehicle is assured via an in-house inspection and reconditioning process, warranties, and a 7-day returns policy. Customers can checkout online in under 10 minutes, with integrated financing.

The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne (Picture), Co-Head of Venture Capital (Australia) Elizabeth Henderson, senior associate Thomas Kelly and solicitor Roy Carbone, with support from solicitor Shonie Kaushik and graduate Jane Wang. The team also worked with associated tax practice Greenwoods & Herbert Smith Freehills, led by partner Toby Eggleston.

Involved fees earner: Toby Eggleston – Greenwoods & Herbert Smith Freehills; Roy Carbone – Herbert Smith Freehills; Peter Dunne – Herbert Smith Freehills; Elizabeth Henderson – Herbert Smith Freehills; Thomas Kelly – Herbert Smith Freehills;

Law Firms: Greenwoods & Herbert Smith Freehills; Herbert Smith Freehills;

Clients: Carma;

Giulia Di Palma

Author: Giulia Di Palma