About Carbar
Carbar is a Transportation, Automotive & Logistics company based in Nunawading (Australia) founded in 2016 by Kenneth Yew Cheng Teh, Richard, Davie Saw, and Desmond Hang, and was acquired by IAG in July 2019. Online car subscription platform. 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. Its chief executive, as recorded, is Desmond Hang. Its website carbar.com.au draws about 23 thousand monthly visits. Carbar offers products and services including Car Subscription, Novated Lease, Novated Subscription, Fleet Subscription, and Car Selling Service. Its focus areas include Consumer, Auto E-Commerce & Content, Subscription and Cars. Its competitors include Loopit and Carly; 1 of its 2 listed competitors has raised funding.
Company details
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.
- Total Equity Funding$33.14M (USD)
in 3 rounds
- Latest Funding Round$28.9M (USD), Series B
Feb 2022
- InvestorsSeven West Media
& 2 more
- Investments & Acquisitions
- Acquired byIAG
(Jul 2019)
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.
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.
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 $33.14M
- Total Rounds 3
- Last Round Series B — $28.9M
- First Round $4.24M
(Aug 2018)
- Investors Count 3
All 3 funding rounds of Carbar with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2022 | $28.9M | Series B | – | IAG, Seven West Media | – |
| Jul 2021 | $50M | Debt – Conventional | – | – | |
| Aug 2018 | $4.24M | Series A | – | – | – |
3 investors in total: 3 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
IAG is engaged in providing insurance and reinsurance services across Australia and New Zealand. | 1920 | iag.com.au | Sydney, Australia | |
Integrated media company offering broadcast television, publishing, and online services | 1992 | sevenwestmedia.com.au | Perth, Australia | |
Specialist credit solutions are provided by GCI Funds. | gcifunds.com | Sydney, Australia |
Investor details for Carbar
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People of Carbar
15 people are tracked at Carbar (8 in leadership, 7 in team).
| Name | Role | Group |
|---|---|---|
Kenneth Yew Cheng Teh | Co-Founder | Leadership |
Richard | Co-Founder | Leadership |
Davie Saw | Co-Founder & CCO | Leadership |
Desmond Hang | Co-Founder & CEO | Leadership |
Mark Stackpoole | Chief Operating Officer | Leadership |
Bryan Loh | Design Director | Leadership |
Erroll Quitoriano | Head Of Sales (retail & Wholesale) | Leadership |
Ben Hershman | Chief Commercial Officer (cco) | Leadership |
Grant Buchanan | Procurement Manager | Team |
Christina Chiodo | People and Culture Manager | Team |
Eliane Hillers | Corporate Financial Controller | Team |
Santiago de Abiega | Financial Planning and Analysis Manager | Team |
John Muscat | Fleet Manager | Team |
Peter Panayiotidis | Fleet Manager | Team |
Gavin Spencer-Pitts | Product Specialist | Team |
Complete people profiles for Carbar
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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- Board tenure
- Professional contacts
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Investments & Acquisitions by Carbar
Carbar has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include HelloCars.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Provides car subscriptions and rentals from $149 per week in Sydney. | hellocars.com.au | Sydney, Australia | 2015 | Dec 2025 | •••• |
Complete acquisition details for Carbar
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Competitors of Carbar
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| loopit.co | 2020 | Sydney, Australia | $6.23M | 1 | Loopit is recognized for providing car rental and subscription software. | |
| carly.co | 1994 | Sydney, Australia | Limited information is provided about Carly's activities. |
Detailed competitors of Carbar
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Web traffic of Carbar
The website of Carbar (carbar.com.au) receives about 22.9K visits a month.
- Monthly visits22.9K
▲ 54.3% vs previous month
Websites whose visitors overlap most with Carbar. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| motopool.com.au | 100% | 14.4K | #1,830,997 | View details | |
easifleet.com.au | easifleet.com.au | 96% | #624,540 | – | |
| 1alp.com.au | 94% | #4,245,959 | View details | ||
sellmycar.com.au | sellmycar.com.au | 90% | #745,981 | – | |
| hellocars.com.au | 88% | 680.7K | #3,984,996 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 32 similar websites and full traffic analytics for Carbar
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- 32 similar websites
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Related news about Carbar
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Frequently Asked Questions about Carbar
Carbar was founded in 2016 and raised its 1st funding round 2 years after it was founded.
Carbar is headquartered in Nunawading, Australia. It is registered at Nunawading, Victoria, Australia.
Desmond Hang is the CEO of Carbar, as recorded in our data. They have also founded this 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 2018.
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.
Carbar offers Car Subscription, Novated Lease, Novated Subscription, Fleet Subscription, and Car Selling Service.
Carbar has made 1 acquisition, including HelloCars.
Carbar has 3 investors. Key investors include Seven West Media, IAG, and GCI Funds.
Yes. Carbar was acquired by IAG in July 2019.