Indonesia-based used car marketplace Moladin received nearly $8 million from Singapore-based Ascend Capital last week.

The company had last secured $95 million in a series B round led by DST Global in May 2022, a development first reported by DealStreetAsia. The lead investor chipped in $50 million, while East Ventures contributed nearly $20 million to the financing.

Earlier this month, Moladin laid off 360 employees, or 11% of its total workforce, to improve its long-term operational sustainability.