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

[SINGAPORE] Car marketplace and automotive services platform Carro aims to boost its profitability and will seek a final round of fundraising to help it grow, before seeking an initial public offering (IPO).

Its chief executive officer Aaron Tan wants Carro to be much more profitable first, aiming for earnings before interest, taxes, depreciation and amortisation (Ebitda) to hit around S$130 million as a precursor to an IPO – roughly trebling it from its current level.

“Once we get to (that level), I do like to think that we can potentially list with a good tailwind because of scarcity. Name me another high-growth tech company that is profitable, Ebitda positive and sizeable?” he said.