The Business Times
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Carro

Companies & Markets

Singapore-based car marketplace Carro said to be exploring US IPO

Aaron Tan, co-founder and CEO of Carro, notes that Australia is “one of the largest used-car markets” in the Asia-Pacific.
Transport & Logistics

Singapore’s Carro enters Australia market with acquisition of used-car platform CarPlace

CEO Aaron Tan says that Carro will look at a possible initial public offering after the company reaches earnings (Ebitda) of US$100 million.
Startups

Carro heads Down Under. Is an IPO on the horizon?

Carro has raised more than S$700 million so far from several sovereign funds and the SoftBank Vision Fund.
Companies & Markets

Carro raises US$60 million to tap Asia-Pacific demand for used Japanese cars; Cool Japan Fund leads funding

Carro has not yet appointed any financial advisers for the potential IPO, but is in talks with banks including HSBC and UBS.
Global Enterprise

Singapore’s Carro eyes M&A, Australia foray ahead of potential dual listing

Carro is on track to deliver US$100 million in annual earnings before interest, taxes, depreciation, and amortisation by its fiscal year ending March 2026.
Transport & Logistics

Carro targets US IPO with over US$3 billion valuation: sources

Toyota has ventured into the used-car trade overseas, operating an online store for used models in Japan.
Transport & Logistics

Toyota crashes Indonesia’s used-car party with US$120 million bet

Award winners from the 40th Singapore Business Awards. (From left) Young Business Leader of the Year Aaron Tan, co-founder and CEO of Carro; Michael Mun, executive chair and CEO of Aztech Global, which clinched the Enterprise Award; Businessman of the Year Laurent Junique, CEO of TDCX; Outstanding Chief Executive of the Year Helen Wong, group CEO of OCBC; and Outstanding Overseas Executive of the Year Irving Tan, CEO of Western Digital Corporation.
Singapore Business Awards

TDCX founder Laurent Junique wins top prize at 40th Singapore Business Awards

Aaron Tan, CEO of Carro, wants the company to be much more profitable first, aiming for Ebitda to hit around S$130 million as a precursor to an IPO.
Startups & Tech

Carro aims to treble Ebitda to S$130m ahead of potential IPO

The used-car marketplace sector has been on a roller-coaster ride over the last few years, as rising interest rates have sent investors fleeing.
Startups

Carro swaps growth for profitability, as losses fall 92% in FY24

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