S'pore's newest unicorn Carro on expansion drive in S-E Asia

It raises $484m in Series C funding round, and plans to grow its existing markets while expanding into new ones

Above: Carro co-founder and chief executive Aaron Tan believes his start-up has a home-grown advantage in the region. Left: Carro's showroom in Singapore. Its platform allows consumers and businesses to buy and sell vehicles while also providing fina
Carro's showroom in Singapore. Its platform allows consumers and businesses to buy and sell vehicles while also providing financing and insurance services. PHOTO: CARRO, REUTERS
Above: Carro co-founder and chief executive Aaron Tan believes his start-up has a home-grown advantage in the region. Left: Carro's showroom in Singapore. Its platform allows consumers and businesses to buy and sell vehicles while also providing fina
Above: Carro co-founder and chief executive Aaron Tan believes his start-up has a home-grown advantage in the region. PHOTO: CARRO, REUTERS
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Used-car marketplace start-up Carro - the latest local start-up to join the billion-dollar club - is looking to deepen its presence in South-east Asia.

The Singapore-headquartered firm has just raised US$360 million (S$484 million) in its Series C funding round, which it said puts its valuation at over US$1 billion.

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A version of this article appeared in the print edition of The Straits Times on June 21, 2021, with the headline S'pore's newest unicorn Carro on expansion drive in S-E Asia. Subscribe