Telenor Group invests $1 billion in startup Carousell

The investment brings Carousell s valuation to $1.1 billion, according to the company's statement on Wednesday.

Carousell is joining a growing list of privately listed startups valued at more than $1 billion in Singapore. The startup was founded in 2012 and counts Telenor Group, Rakuten Ventures, Naver and Sequoia Capital India among its backers.