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. 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.
- Annual Revenue$806.83 M (USD)67as on Mar 31, 2023
- Net Profit-$96.14 M (USD)-533as on Mar 31, 2023
- EBITDA-$88.32 M (USD)-495as on Mar 31, 2023
- Total Equity Funding$685.9 M (USD)
in 15 rounds
- Latest Funding Round$60 M (USD), Series C
Sep 17, 2025
- InvestorsHSBC
& 36 more
- Employee Count1,000
- Investments & AcquisitionsBeyond Cars
& 2 more
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 $685.9M
- Total Rounds 15
- Last Round Series C — $60.0M
- First Round $5.3M
(13 Jun 2016)
- Investors Count 37
Latest 10 of 15 funding rounds of Carro 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 |
|---|---|---|---|---|---|
| 17 Sep 2025 | $60.0M | Series C | – | Cool Japan Fund | |
| 10 Dec 2024 | – | Series C | – | – | |
| 20 Jun 2024 | $55.5M | Debt – Conventional | – | – | |
| 28 Feb 2023 | – | Series C | – | ZA Tech | – |
| 06 Jun 2022 | $25.0M | Series C | – | – | |
| 12 Jan 2022 | $7.0M | Series C | – | EON Berhad , Summer Consensus | – |
| 16 Dec 2021 | $15.6M | Series C | – | – | |
| 25 Nov 2021 | $100.0M | Series C | $1.0B | Shinhan Financial Group , Temasek | – |
| 15 Jun 2021 | $360.0M | Series C | – | SoftBank Vision Fund | |
| 14 Oct 2020 | $110.3M | Debt – Conventional | – | – | – |
| Date | Valuation | Stage |
|---|---|---|
| 25 Nov 2021 | $1.0B | •••••••• |
Last known valuation $1.0B (Nov 2021). 37 investors in total: 35 institutional and 2 angel.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investments are directed by WOORI Venture Partners into diverse sectors. | – | woorivp.com | Seongnam-si, South Korea | |
Private equity firm focused on multiple sectors | – | summerconsensus.tcc.mode | - | |
Financial group | 1982 | shinhangroup.com | Seoul, South Korea | |
An investment platform is provided for diverse sectors and geographies. | 1974 | temasek.com.sg | Singapore, Singapore | |
Venture capital investments in technology and startups. | 2016 | visionfund.com | London, United Kingdom | |
Venture capital firm investing in Southeast Asian startups and publishing reports on technology and sustainability. | – | east.vc | - | |
Endeavor is focused on supporting high-impact entrepreneurs globally. | – | endeavor.org | New York, United States | |
Venture capital firm focused on seed to series B stage companies | – | msad.vc | Menlo Park, United States | |
Government-backed investments are directed toward healthcare, fintech, and various sectors. | – | edbi.com | Singapore, Singapore | |
Early-stage startups are funded by Seoul-based Ncore Ventures. | – | ncorevc.com | Seoul, South Korea |
Investor details for Carro
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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People of Carro
43 people are tracked at Carro (21 in leadership, 22 in team); the tracked headcount is 1,000.
| Name | Role | Group |
|---|---|---|
Aditya Lesmana | Co-Founder | Leadership |
Kelvin Chng | Co-Founder | Leadership |
Fong Hon Sum | Co-Founder & Co-CEO | Leadership |
Aaron Tan | Co-Founder & Co-CEO | Leadership |
Aakash Kumar Gupta | Regional Head Of Performance Marketing | Leadership |
Katherine Teo | Chief Marketing Officer | Leadership |
Nicholas Leow | Regional Marketing Director | Leadership |
Joolin Chuah | Chief Of Staff | Leadership |
Natalie Pang | Head Of Content | Leadership |
Xiang Jie C. | Vice President Finance | Leadership |
Shane Lim | Associate Creative Director | Leadership |
Jessica Khong | Manager - Human Resources Business Partner | Leadership |
Kent Lim | Head Of Inventory, QA & Handover | Leadership |
Paing Pyi Ko | Group CTO | Leadership |
Ernest Chew | Executive Vice President And Managing Director, Chief Financial Officer | Leadership |
Zi Yong Chua | Chief Operating Officer | Leadership |
Oisin Chok | Group HR Director | Leadership |
Reza Wijaya | Head Of Wholesale | Leadership |
Charlene Marin | VP Of Finance, Accounting And Reporting | Leadership |
Erica Loh | Regional Head Of Marketing | Leadership |
23 more people are available in the full profile.
Complete people profiles for Carro
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Investments & Acquisitions by Carro
Carro has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Beyond Cars, Jualo and Kaidee.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Used cars are retailed by Beyond Cars in Hong Kong. | beyondcars.com | Hong Kong, China | 2016 | Mar 2024 | •••• | |
Second-hand goods are traded peer-to-peer on Kaidee in Thailand. | kaidee.com | Bangkok, Thailand | 2011 | Mar 2023 | •••• | |
Multi-category used products are listed on an online platform. | jualo.com | Jakarta, Indonesia | 2014 | Aug 2019 | •••• |
Complete acquisition details for Carro
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
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Timeline of Carro
7 dated milestones of Carro across 10 years, from founding to its latest funding, stage changes and deals.
- Founded Carro is founded.
- Funding First funding round of $5.3M.
- Acquisition Acquires Jualo.
- Milestone Reaches Unicorn status.
- Acquisition Acquires Kaidee.
- Acquisition Acquires Beyond Cars.
- Funding Latest funding round, Series C, of $60.0M.
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.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| droom.in | 2014 | Gurugram, India | $344.3M | 156 | Used vehicles are bought and sold through an AI platform. | |
| autohome.com.cn | 2005 | Beijing, China | – | – | Automotive website providing the car related information | |
| guazi.com | 2014 | Beijing, China | $4.8B | – | Online P2P marketplace for used cars | |
| moladin.com | 2016 | Jakarta, Indonesia | $181.2M | – | Online listing platform for used cars | |
| xin.com | 2011 | Shenzhen, China | $500.0M | – | Used cars are auctioned online through a B2C platform. | |
| yixincars.com | 2013 | Shanghai, China | $580.0M | – | Auto financing is facilitated via an online lending marketplace. | |
| sgcarmart.com | 2007 | Singapore | – | – | Cars are listed on an online platform in Singapore. | |
| souche.com | 2012 | Hangzhou, China | $1.2B | – | O2O-based used car transaction platform | |
| tuanche.com | 2009 | Beijing, China | – | – | Second-hand automobiles are purchased via an online portal. |
Detailed competitors of Carro
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Latest news on Carro
Complete news archive for Carro
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Carro
10 companies that operate in the same segment as Carro (Automotive Retail & Aftersales), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Pre-owned vehicles are sold online with financing and valuation services. | 2012 | Phoenix, Arizona, United States | USD 460 M | USD 20.32 B | 17,400 | |
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 655.23 M | USD 216.04 M | 461 | |
Retailer of inspected, certified pre-owned vehicles with service and finance options | 2015 | Gurugram, Haryana, India | USD 716.48 M | USD 446.48 M | 3,992 | |
Pre-owned cars are certified, inspected, and traded online via Kavak. | 2016 | Lerma De Villada, Estado De Mexico, Mexico | USD 1.98 B | – | 2,500 | |
Auto insurance is delivered via app to individual drivers. | 2017 | London, England, United Kingdom | USD 206.3 M | – | – | |
Provider of car service and repair network | 2016 | Gurugram, Haryana, India | USD 62.01 M | USD 8.06 M | 171 | |
Second-hand cars are listed online to connect buyers and sellers. | 2003 | Mumbai, Maharashtra, India | USD 5.89 M | USD 5.28 M | 451 | |
Vehicle parts and accessories are sold via an online platform. | 1897 | Walsall, West Midlands, United Kingdom | USD 20.37 M | – | – | |
Retailer of new automobiles, used vehicles, and related automotive news | 2008 | Jaipur, Rajasthan, India | USD 60 M | USD 289.58 M | 721 | |
App-based used cars listing platform | 2009 | Mumbai, Maharashtra, India | USD 272.44 M | – | – |
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Frequently Asked Questions about Carro
Carro was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Carro is headquartered in Singapore, Singapore.
Fong Hon Sum is the current CEO of Carro. They have also founded this 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 $110.34M, raised on Jun 13, 2016.
Carro has 1,000 employees.
Annual revenue of Carro is $806.83M as on Mar 31, 2023.
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.
Carro has made 3 acquisitions, including Beyond Cars, Jualo, and Kaidee.
Carro has 37 investors. Key investors include HSBC, SoftBank Group, Singtel, Shinhan Financial Group, and Temasek.
The valuation of Carro is $1B as of Nov 2021.
Carro operates through Trusty Cars Pte. Ltd..