This article first appeared on Singapore Business Review.
He will join the panel to discuss what it takes for startups to expand and thrive overseas.
As an automotive marketplace, Carro is breaking out of the traditional way of dealing cars by evolving from a used car marketplace to becoming an all-around platform for all aspects of car ownership.
Users can apply for in-house financing through Carro’s sister company, Genie Financial, or avail of much needed in-house repairs and maintenance and roadside assistance through its after-sales services. A passionate business technologist, co-founder Kelvin Chng leads the venture-backed company with years of experience in conceptualising pragmatic technological approaches to solve day-to-day problems.
After snagging funding from VCs and investors and closing its latest series B round at US$90 million, the company has recently injected $30m into Malaysian car bidding platform myTukar to solidify its foothold in the region.
In an interview with Singapore Business Review, Kelvin shares what’s driving the company to continue its growth prospects, ahead of his session at SBR Hottest Startups Panel Briefing 2019.
What were the previous positions you’ve held that contributed to who you are as an entrepreneur today?
Prior to co-founding Carro, I was a key stakeholder in both SAS, the worldwide leader in business analytics solutions, as well as Experian, one of the largest credit bureaus in the world.
At both SAS and Experian, I handled both consulting and business development to help further the businesses of clients through the use of decisioning and analytical software.
With my experience in the public sector and commercial business verticals, I am able to communicate, articulate and design solutions around risk, originations, collections, fraud, public security and intelligence.
Tell us about how Carro started. What would be the company’s significant milestones?
We started proper in early 2016. The first milestone was to hit $1 million in sales, then it became $10 million, $100 million and today $1 billion. We have been pretty fortunate as along the way we have raised more than $100m in funds.
But the key milestone has to be our success in the region—Indonesia, Thailand and now Malaysia. Our expansion markets remain our key driver for growth, and more importantly, our key milestones!
Can you give us a glimpse of what you will talk about at the 20 Hottest Startups Panel Briefing 2019?
Anything that you guys want to know!