About Carro
Carro is a company based in Singapore (Singapore) founded in 2015 by Aditya Lesmana, Kelvin Chng, Fong Hon Sum, and Aaron Tan.. Carro has raised $685.9 million across 15 funding rounds from investors including HSBC, SoftBank Group and Singtel. The company has 1,000 employees as of June 15, 2021. Carro has completed 3 acquisitions, including Beyond Cars, Jualo and Kaidee. Carro operates in a competitive market with competitors including Droom, Autohome, Guazi, Moladin and Uxin, among others.
- Headquarter Singapore, Singapore
- Employees 1000 as on 15 Jun, 2021
- Founders Aditya Lesmana, Kelvin Chng, Fong Hon Sum, Aaron Tan
- Stage Unicorn
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Trusty Cars Pte. Ltd.
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Annual Revenue
$806.83 M (USD)67as on Mar 31, 2023
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Net Profit
$-96.14 M (USD)-533as on Mar 31, 2023
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EBITDA
$-88.32 M (USD)-495as on Mar 31, 2023
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Total Equity Funding
$685.9 M (USD)
in 15 rounds
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Latest Funding Round
$60 M (USD), Series C
Sep 17, 2025
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Investors
HSBC
& 36 more
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Employee Count
1000
as on Jun 15, 2021
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Investments & Acquisitions
Beyond Cars
& 2 more
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Funding Insights of Carro
Carro has successfully raised a total of $685.9M across 15 strategic funding rounds. The most recent funding activity was a Series C round of $60 million completed in September 2025. 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 15
- Last Round Series C — $60.0M
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First Round
First Round
(13 Jun 2016)
- Investors Count 37
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2025 | Amount | Series C - Carro | Valuation | Cool Japan Fund | |
| Dec, 2024 | Amount | Series C - Carro | Valuation |
investors |
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| Jun, 2024 | Amount | Debt – Conventional - Carro | Valuation |
investors |
| 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 Carro
Carro has secured backing from 37 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include HSBC, SoftBank Group and Singtel. 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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Investments are directed by WOORI Venture Partners into diverse sectors.
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Founded Year | Domain | Location | |
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Private equity firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Financial group
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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 Carro
Carro has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Beyond Cars, Jualo and Kaidee. 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
|
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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Used cars are retailed by Beyond Cars in Hong Kong.
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2016 | ||||
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Multi-category used products are listed on an online platform.
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2014 | ||||
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Second-hand goods are traded peer-to-peer on Kaidee in Thailand.
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2011 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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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 - Carro
| 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 |
Carro Comparisons
Competitors of Carro
Carro 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 Droom, Autohome, Guazi, Moladin and Uxin, 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 |
Used vehicles are bought and sold through an AI platform.
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| domain | founded_year | HQ Location |
Automotive website providing the car related information
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| domain | founded_year | HQ Location |
Online P2P marketplace for used cars
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| domain | founded_year | HQ Location |
Online listing platform for used cars
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| domain | founded_year | HQ Location |
Used cars are auctioned online through a B2C platform.
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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 Carro
Frequently Asked Questions about Carro
When was Carro founded?
Carro was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Carro located?
Carro is headquartered in Singapore, Singapore.
Who is the current CEO of Carro?
Fong Hon Sum is the current CEO of Carro. They have also founded this company.
Is Carro a funded company?
Carro is a funded company, having raised a total of $685.9M across 15 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $55.5M, raised on Jun 13, 2016.
How many employees does Carro have?
As of Jun 15, 2021, the latest employee count at Carro is 1,000.
What is the annual revenue of Carro?
Annual revenue of Carro is $806.83M as on Mar 31, 2023.
What does Carro do?
Carro was founded in 2015 in Singapore as an automotive marketplace. Vehicles are bought and sold through the platform, with details on models, prices, features, and specifications made available. Additional services such as car rental, leasing, and financing are facilitated. AI and data analytics are employed to generate personalized recommendations, vehicle reviews, and targeted inventory searches aligned with user needs. Operations focus on the Singapore region.
How many acquisitions has Carro made?
Carro has made 3 acquisitions, including Beyond Cars, Jualo, and Kaidee.
Who are Carro's investors?
Carro has 37 investors. Key investors include HSBC, SoftBank Group, Singtel, Shinhan Financial Group, and Temasek.
What is Carro's valuation?
The valuation of Carro is $1B as of Nov 2021.
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