About Carbar
Carbar is a company based in Nunawading (Australia) founded in 2016 by Kenneth Yew Cheng Teh, Richard, Davie Saw, and Desmond Hang was acquired by IAG in July 2019.. Carbar has raised $33.14 million across 3 funding rounds from investors including Seven West Media, IAG and GCI Funds. Carbar has completed 1 acquisition, including HelloCars. Carbar offers products and services including Car Subscription, Novated Lease, Novated Subscription, Fleet Subscription, and Car Selling Service. Carbar operates in a competitive market with competitors including Loopit and Carly, among others.
- Headquarter Nunawading, Australia
- Founders Kenneth Yew Cheng Teh, Richard, Davie Saw, Desmond Hang
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$33.14 M (USD)
in 3 rounds
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Latest Funding Round
$28.9 M (USD), Series B
Feb 15, 2022
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Investors
Seven West Media
& 2 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Acquired by
IAG
(Jul 16, 2019)
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Products & Services of Carbar
Carbar offers a comprehensive portfolio of products and services, including Car Subscription, Novated Lease, Novated Subscription, Fleet Subscription, and Car Selling Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Flexible all-inclusive access to cars with fixed payments.
Cost-effective leasing option for employee vehicles.
Electric vehicle subscription for business needs.
Solutions for business vehicle fleets and optimization.
Hassle-free platform to sell cars online.
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Funding Insights of Carbar
Carbar has successfully raised a total of $33.14M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $28.9 million completed in February 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $28.9M
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First Round
First Round
(03 Aug 2018)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2022 | Amount | Series B - Carbar | Valuation | IAG , Seven West Media |
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| Jul, 2021 | Amount | Debt – Conventional - Carbar | Valuation |
investors |
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| Aug, 2018 | Amount | Series A - Carbar | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Carbar
Carbar has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include Seven West Media, IAG and GCI Funds. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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IAG is engaged in providing insurance and reinsurance services across Australia and New Zealand.
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Founded Year | Domain | Location | |
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Integrated media company offering broadcast television, publishing, and online services
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Founded Year | Domain | Location | |
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Specialist credit solutions are provided by GCI Funds.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Carbar
Carbar has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include HelloCars. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Provides car subscriptions and rentals from $149 per week in Sydney.
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Carbar
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Carbar Comparisons
Competitors of Carbar
Carbar operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Loopit and Carly, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Loopit is recognized for providing car rental and subscription software.
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| domain | founded_year | HQ Location |
Limited information is provided about Carly's activities.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Carbar
Frequently Asked Questions about Carbar
When was Carbar founded?
Carbar was founded in 2016 and raised its 1st funding round 2 years after it was founded.
Where is Carbar located?
Carbar is headquartered in Nunawading, Australia. It is registered at Nunawading, Victoria, Australia.
Who is the current CEO of Carbar?
Desmond Hang is the current CEO of Carbar. They have also founded this company.
Is Carbar a funded company?
Carbar is a funded company, having raised a total of $33.14M across 3 funding rounds to date. The company's 1st funding round was a Series A of $4.24M, raised on Aug 03, 2018.
What does Carbar do?
Founded in 2016 and based in Nunawading, Australia, the company functions in the automotive sector as an online platform for car subscriptions. Services encompass second-hand car sales and purchases, where buyers select from an online catalog, book trials, and complete transactions. Sellers obtain quotes, schedule inspections, and either sell directly or list vehicles. Concierge assistance is provided for new acquisitions, with operations centered in Australia.
What products or services does Carbar offer?
Carbar offers Car Subscription, Novated Lease, Novated Subscription, Fleet Subscription, and Car Selling Service.
How many acquisitions has Carbar made?
Carbar has made 1 acquisition, including HelloCars.
Who are Carbar's investors?
Carbar has 3 investors. Key investors include Seven West Media, IAG, and GCI Funds.