Carro is an automotive marketplace that offers a full-stack service for all aspects of car ownership. By offering a trustworthy and transparent experience, Carro challenges the traditional way of buying and selling cars through a proprietary pricing algorithm.
Besides buying and selling of cars, Carro provides services that offer a car owner everything they need throughout their car ownership journey. Carro’s automotive ecosystem of services are the first of its kind and leverages on innovation and technology to provide consumers with a seamless experience.
Carro’s technology-driven services include an in-house financing solution through its sister company Genie Financial, and a suite of after-sales services such as Singapore’s first warranty that covers direct owner purchases, Singapore’s first on-demand roadside recovery platform and an in-house car care workshop.
Best Funded Automotive Marketplace
Founded in 2015, Carro is Southeast Asia’s largest automotive marketplace, with the company having expanded to Thailand and Indonesia in 2017. Carro’s expansion coincides with exponential year-on-year growth, recording over US$100 million worth of transactions in 2016, with figures doubling to over US$250 million in the following year.
In June 2018, Carro raised a US$60 million Series B round from SoftBank Ventures, Insignia Ventures Partners and B Capital Group. Overall, Carro has raised a total of US$75 million which is being used to grow its presence across Southeast Asia and improve existing services in its automotive ecosystem.