The Business Times

Carro

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

(FILES) The logo of Japan's Toyota Motor is displayed at a dealership in Tokyo on February 9, 2022. Shares in Japan's biggest car companies fell on March 27, 2025, after US President Donald Trump announced a 25 percent tariff on auto imports to take effect next week. The world's top-selling automaker Toyota dropped 3.7 percent as the Tokyo market opened, while Nissan shed 3.2 percent and Honda fell as much as 3.1 percent. (Photo by Kazuhiro NOGI / AFP)
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, Co-founder and CEO, Carro
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.
Tech in AsiaStartups

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

Kelvin Chng (left), co-founder of Carro and HSBC's Amanda Murphy at the signing ceremony.
Startups

Singapore startup Carro first to tap US$1 billion HSBC Asean Growth Fund 

Singapore-headquartered Carro, a South-east Asian online used-car marketplace, has acquired a 50 per cent stake in the rental unit of Indonesian automotive group PT Mitra Pinasthika Mustika Tbk for nearly US$54 million, both companies said in a joint statement on Monday.
Startups

Singapore car startup Carro seeks value over US$1.5 billion ahead of IPO

Carro has already been audited to the Public Company Accounting Oversight Board level, which makes it ready for an IPO in the US.
Transport & Logistics

SoftBank-backed Carro in talks to raise over US$100 million ahead of potential IPO: executive

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