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 selling second-hand cars, CARRO provides services that offer a car owner everything they need throughout their car ownership journey. In 2019, CARRO introduced the First Car Subscription Service in Singapore. The new service aims to provide Singaporeans with a commitment-free car ownership experience, unlike the traditional.
CARRO's technology-driven services leverage on innovation and technology to provide consumers with a seamless experience throughout. These include an in-house financing solution through its sister company Genie Financial Services and a suite of after-sales services such as an in-house car care workshop and Singapore's first on-demand roadside recovery platform.
Best Funded Automotive Marketplace
Founded in 2015, CARRO is Southeast Asia's largest automotive marketplace for pre-owned cars, 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 2017 and again doubling to US$500 million in 2018.
In August 2019, CARRO closed their Series B funding round at US$90 million. The round was supported by notable names such as SoftBank Ventures Asia, EDBI Pte Ltd, Insignia Ventures Partners, B Capital Group and many more. Overall, CARRO has raised US$105 million since its inception. The funding has allowed the company to expand its presence across Southeast Asia and improve existing services in its automotive ecosystem.
