Challenging the status quo in the automotive industry
Carro provides a full-stack service for all aspects of car ownership and uses AI-powered technology to transform the car buying and selling experience. By offering a trustworthy and transparent experience, Carro challenges the traditional way of buying and selling cars through proprietary pricing algorithm and AI-enabled capabilities.
Carro provides a range of services across the entire car ownership ecosystem. These include in-house car financing solutions, innovative car insurance products, flexible car ownership experience and after-sales car maintenance, service and repair services. It has pioneered innovative services such as Singapore’s first contactless online car purchase service, first car rental subscription service and the first region-wide behaviour and usage-based car insurance solutions.
Founded in 2015, Carro facilitates about US$1billion annualised run-rate GMV. Carro group of companies include Genie, myTukar and Jualo. As of June 2021, Carro has raised over US$400 million in equity from SoftBank Vision Fund 2, EDBI, Mitsubishi Corporation, MS&AD Ventures, Insignia Ventures Partners and B Capital Group.
Over the years, we’ve cemented our spot as Southeast Asia’s Largest Automotive Marketplace and received a host of awards that recognises the work and achievements we’ve accomplished in the region.
In 2021, we bagged the No. 1 spot in The Straits Times’ and Statista’s list of Singapore’s Fastest-Growing Companies.
Our accomplishments were also acknowledged by business magazine, Singapore Business Review, as we were crowned the Hottest Startup in 2019.
We also brought home our first 2 marketing awards, winning a Silver PR Award for the Best Use of Technology in 2020 and a Silver Mobile Excellence Award for the Best E-commerce App in 2019, both presented by Marketing Magazine.
Our amazing relationship with our investors, Insignia Ventures Partners, also earned us the VC Deal of the Year award given by Singapore Venture Capital and Private Equity Association (SVCA).
In addition, our entrepreneurial spirit was recognised by The Business Times and OCBC Bank as we emerged as one of the finalists for the Emerging Enterprise Award 2016. This was a great honour as we went head to head with unicorns throughout the region.