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Straits Times: CARRO – Tech innovation drives online car portal to the top

This article first appeared in the Straits Times, written by Sue-Ann Tan.

SINGAPORE – An online car marketplace driven by technology, automation and artificial intelligence (AI) bagged the top spot in this year’s fastest-growing companies ranking, compiled by The Straits Times and global research company Statista.

Exploring novel ideas and being adventurous are two values that have helped Carro to grow quickly, said chief executive and founder Aaron Tan.

The firm now provides customers with end-to-end services for all aspects of car ownership, including financing and after-sales services. It provides a car subscription service here and also enables a fully contactless purchasing experience for second-hand cars.

Mr Tan said: “In 2020, there was a strong focus on digitalisation worldwide due to the disruption caused by the pandemic.

“Carro launched many technological innovations in response to that shift, including providing a fully contactless car purchase process and launching an AI-based auto insurance product that calculates premiums based on the driver’s behaviour and distance travelled.”

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