Carro
Softbank-backed Carro seeks valuation above $2B as it prepares for IPO- report
Carro is raising capital during one of the hardest possible times for fledgling firms. The Southeast Asia technology industry has been plagued by job cuts, CEO resignations and falling startup valuations, making it difficult for companies to debut on public markets.
MyTukar renames to Carro, appoints Malaysian influencer Phei Yong as first brand ambassador
MyTukar powered by Carro, Malaysia’s used car ecosystem, has renamed to Carro, signifying a move that will bring more of Carro’s cutting-edge technologies, products, and services to Malaysian customers.
Softbank-backed Carro expands into Hong Kong with Beyond Cars acquisition
Carro, Southeast Asia's largest online used car platform, has on Thursday announced its acquisition of Beyond Cars, one of the leading used car platforms in Hong Kong. With Hong Kong under its belt, the firm is now present in a total of seven markets, including Singapore, Malaysia, Indonesia, Thailand, Japan, and Taiwan.
Carro opens two new branches in Thailand, eyeing expansion
Carro, a Singapore-based online used car platform, has unveiled two new branches in Kingkaew and Tiwanon, bringing its total branches in Thailand to five. The move is to bring its certified cars to more people across the suburbs of Bangkok city.
Singapore’s Carro in talks to raise over $100M ahead of potential US IPO – report
Carro is also in the midst of securing “triple digit million dollar” financing from banks at around 5 percent annually.
DRB-HICOM invests in Carro’s auto fintech subsidiary Genie Malaysia
Edaran Otomobil Nasional Berhad (EON), a wholly-owned subsidiary of Malaysia-listed conglomerate DRB-HICOM, has made a strategic investment in Genie Malaysia, a subsidiary of Singapore-based online used car platform Carro.
Singapore’s Carro achieves best quarterly profitability since inception in the first quarter of FY2024
Carro, the Singapore-based online used car platform, has achieved best quarterly profitability since inception in the first quarter of FY2024. The firm has clocked its highest earnings before interest, taxes, depreciation, and amortization (EBITDA) of over $4 million for the month of June. It has also exceeded profitability targets for the first quarter of…
Carro invests in Malaysian automobile content provider Driven Communications
Carro, the Singapore-based online used car platform, has on Monday announced that it is making a strategic investment into Driven Communications, a Malaysian content provider.
Carro and Jardine Cycle & Carriage ink $60M automotive strategic partnership
Singapore-based used car marketplace Carro and Jardine Cycle & Carriage (JC&C) have announced on Friday a $60 million strategic partnership that aims to redefine the used car and aftersales segments of automotive retailing.
Softbank-backed Carro reports record EBITDA in FY2023 driven by strong recurring ecosystem ancillaries
Carro, the Singapore-based online used car platform, announced Thursday that it has recorded its best ever full-year positive earnings before interest, taxes, depreciation, and amortization (EBITDA) of $4 million for its latest financial year ending March 2023 (FY2023).
