Singapore: Carro, a Singapore-headquartered wholesale automotive marketplace, announced today it has secured SGD150 million (US$110 million) in debt financing and additional equity.
Investors joined this round include Mitsubishi Corporation and MS&AD Ventures, the venture arm of MS&AD Insurance Group Holdings
“Our strategic partners will help turbo-charge our growth. The funds raised showcase the trust from our financial backers as we remained EBITDA positive throughout the COVID-19 pandemic. In fact, we have recently hit record high monthly revenues and EBITDA,” claimed Carro’s CFO Ernest Chew.