{"id":4206,"date":"2021-06-15T15:00:34","date_gmt":"2021-06-15T07:00:34","guid":{"rendered":"https:\/\/mytukar.com\/blog\/?p=4206"},"modified":"2022-04-07T18:27:04","modified_gmt":"2022-04-07T10:27:04","slug":"mytukars-parent-carro-raises-us360m-unicorn","status":"publish","type":"post","link":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/mytukars-parent-carro-raises-us360m-unicorn\/","title":{"rendered":"myTukar&#8217;s Parent Company, Carro Raises US$360M in Series C Funding Round Led by Softbank Vision Fund 2, Achieves Unicorn Status"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-4207\" src=\"https:\/\/carro.co\/my\/blog\/wp-content\/uploads\/2022\/04\/Carro-x-myTukar-1024x683.jpg\" alt=\"carro myTukar unicorn\" width=\"1024\" height=\"683\" srcset=\"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-content\/uploads\/2022\/04\/Carro-x-myTukar-1024x683.jpg 1024w, https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-content\/uploads\/2022\/04\/Carro-x-myTukar-300x200.jpg 300w, https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-content\/uploads\/2022\/04\/Carro-x-myTukar-768x512.jpg 768w, https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-content\/uploads\/2022\/04\/Carro-x-myTukar.jpg 1110w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<ul>\n<li style=\"text-align: left;\"><em>Carro becomes Southeast Asia\u2019s first automotive marketplace unicorn in 5 years<\/em><\/li>\n<li style=\"text-align: left;\"><em>Investors include SoftBank Vision Fund 2, EV Growth and others<\/em><\/li>\n<li style=\"text-align: left;\"><em>Carro will double down on expansion in Thailand and Indonesia, enhance their financial services business, and invest further in artificial intelligence (AI) capabilities<\/em><\/li>\n<\/ul>\n<p><strong>SINGAPORE, 15 June 2021<\/strong>\u00a0\u2013 Carro, Southeast Asia\u2019s largest automotive marketplace, today announced that it has raised US$360 million in a Series C funding round led by SoftBank Vision Fund 2, making it the first automotive marketplace unicorn in Southeast Asia. Notable investors in this new round of financing include several prominent Indonesian based funds including EV Growth.<\/p>\n<p>\u201cThis is a huge milestone for us. We are grateful for the strong support from our investors, which reaffirms our belief in the transformative power of AI in the automotive industry to deliver exceptional customer experience. As digitalisation shapes the global landscape through new consumer habits and business practices, it is a very exciting time for an end-to-end online car marketplace like Carro.\u201d said\u00a0<strong>Aaron Tan, CEO and Founder of Carro.<\/strong><\/p>\n<p>Carro will use the funds to strengthen its market position and expand its retail offering across Indonesia, Thailand, Malaysia, and Singapore \u2013 markets that have seen significant growth in the past year. Carro will also enhance its portfolio of financial services by expanding beyond in-house loan financing, as well as accelerate development of its AI capabilities.<\/p>\n<p>\u201cCarro is transforming the automotive industry in Southeast Asia by providing a seamless buying and selling experience for both consumers and car dealers. Powered by AI, Carro\u2019s technology platform provides consumers with full-stack services and transparency throughout the car ownership process,\u201d said Greg Moon, Managing Partner of SoftBank Investment Advisers. \u201cWe are delighted to partner with Aaron and the Carro team to support their ambition to expand into new markets and use AI-powered technology to make the car buying process smarter, simpler, and safer.\u201d<\/p>\n<p>SoftBank Group first invested in Carro through SoftBank Ventures Asia, its venture capital arm, in 2016 and has continued to support Carro\u2019s growth initiatives through the years.<\/p>\n<p>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. It has pioneered innovative services such as Singapore\u2019s first contactless car purchase service, first car subscription service and the first region-wide behaviour and usage-based car insurance. Carro closed its financial year ending March 2021 with over a 2.5x growth in revenue and continues to be EBITDA positive for the second year running. Carro was also named Asia Pacific\u2019s fastest growing company in 2021 by The Financial Times and Statista.<\/p>\n<p>For more information, visit carro.sg.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Carro becomes Southeast Asia\u2019s first automotive marketplace unicorn in 5 years Investors include SoftBank Vision Fund 2, EV Growth and others Carro will double down on expansion in Thailand and Indonesia, enhance their financial services business, and invest further in artificial intelligence (AI) capabilities SINGAPORE, 15 June 2021\u00a0\u2013 Carro, Southeast Asia\u2019s largest automotive marketplace, today &hellip;<\/p>\n","protected":false},"author":6,"featured_media":4207,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"_links":{"self":[{"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/posts\/4206"}],"collection":[{"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/comments?post=4206"}],"version-history":[{"count":2,"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/posts\/4206\/revisions"}],"predecessor-version":[{"id":4209,"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/posts\/4206\/revisions\/4209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/media\/4207"}],"wp:attachment":[{"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/media?parent=4206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/categories?post=4206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging-crazy-rabbit.getcarsstaging.com\/my\/blog\/wp-json\/wp\/v2\/tags?post=4206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}