CARRO Revenue and Competitors

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 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. Founded in 2015, Carro is Southeast Asia's largest automotive marketplace, 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.