Press Release
Keep up-to-date with our latest news, product launches and releases here.
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Carro brings back award-winning “No Drama” ads to celebrate 10 years of revolutionary car buying and selling services for customers
Carro brings back ‘No Drama’, their award-winning ad series which parodies drama cliches to highlight its trustworthy, reliable, and transparent…
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Carro receives strategic investment from Woori, capping off a record FY2024 with 11x year-over-year EBITDA growth
Strategic investment marks Woori Venture Partners’ first late-stage deal in Southeast Asia, to form a closer partnership as Carro ramps…
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Carro first to tap into US$1 billion HSBC ASEAN Growth Fund
Carro signs a S$75 million multi-currency loan to fund its fintech arm, Genie Financial Services HSBC announced the launch of…
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Carro expands into Hong Kong, acquires Beyond Cars to accelerate footprint beyond Southeast Asia
Founded in 2016, Beyond Cars is one of Hong Kong’s leading used car platforms Beyond Cars’ co-founder and CEO Garry…
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Carro opens two new branches in Kingkaew and Tiwanon, eyeing expansion plans off a profitable FY2023
Two latest additions put Carro’s total branches in Thailand to five, with existing branches in Suan Luang, Chonburi, Ayutthaya Carro’s …
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DRB-HICOM invests in Genie Malaysia, the fastest growing Malaysian auto fintech startup
EON, a wholly-owned subsidiary of DRB-HICOM, strategically invests in Genie Malaysia Genie Malaysia boasts an outstanding loan book of nearly…
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Carro achieves best quarterly profitability since inception in Q1 FY2024
Gross Profit Margins rises to 14% Record EBITDA of US$11 million Run-rate EBITDA of over US$50 million Adjusted Net Profit…
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Carro announces strategic investment into Driven Communications
Carro’s investment includes a portfolio of websites, including paultan.org, carbase.my and oto.my Driven Communications to retain board of directors,…
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Jardine Cycle & Carriage and Carro enter into strategic partnership to shape the future of automotive retailing
Combining the capabilities of an established regional automotive player and leading used car tech platform to win in the used…
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Carro reports record EBITDA in FY2023 driven by strong recurring ecosystem ancillaries
Strong ~2x year-on-year revenue growth ~3x year-on year Gross Profit growth Gross Profit Margin (GPM) rose to ~9%, with final…
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Carro drives into Japan through partnership with SoftBank
Singapore, 20 September 2022 – Southeast Asia’s largest used car marketplace, Carro, has announced its expansion into Japan through a…
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All systems go for CARRO; profitable 2.5x growth year-on-year for FY2022 and rapid growth for Thailand, Indonesia
Recorded 2.5x year-on-year (YoY) revenue growth while achieving a full year net profit for FY2022 Marks first profitable year, was…
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CARRO acquires MPM Rent in a deal valued at US$54M, makes the largest move towards mobility
MPM Rent is a leading Indonesian mobility company which offers a broad spectrum of mobility solutions, from retailing and distributing…
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CARRO kicks off first major sponsorship as Official Match Partner for Bangkok Century Cup and Standard Chartered Singapore Trophy 2022
SINGAPORE, 26 April 2022 – Southeast Asia’s largest used car marketplace, CARRO, today announced its first major sponsorship in…
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Carro raises the bar for data science talent development in Singapore through CARRO X AWS scholarship
Carro and Amazon Web Services (AWS) will host a Hackathon from 18 to 20 March 2022 in conjunction with the…
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CARRO partners Income to launch “Covered”, Singapore’s first AI-driven pay-per-km insurance and maintenance for cars
A first of its kind in Singapore, Covered is a new AI-driven, usage based insurance and maintenance product for all…
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CARRO redefines car buying experience with Singapore’s first contactless service, offers 3-day return policy
Carro digitises the entire process – including auto loans, insurance and vehicle transfer – so customers can purchase pre-owned cars…
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Singapore’s CARRO achieves ‘unicorn’ status, raises S$477 million in Series C Funding led by SoftBank Vision Fund 2
Carro becomes Southeast Asia’s first automative marketplace unicorn in 5 years Investors include SoftBank Vision Fund 2, EV Growth and…
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Carro redefines car buying experience with Singapore’s first ‘Showroom Anywhere’ launch
Drivers can now view cars in person at malls, enjoying more flexibility and convenience in the car purchasing process Designed…
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myTukar Launches Brand New Purchasing Experience for Malaysians, Supports Expansion of Used Car Industry
Kuala Lumpur, 1 April 2021 – myTukar Sdn. Bhd. (the Company), Malaysia’s fastest-growing online used car selling platform today launched the…
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