Vynn Capital, a Malaysia-based venture capital firm that specializes in the mobility and supply chain sectors, led the $2.25 million funding round for WYZauto, an online tire marketplace for auto repair companies based in Thailand.
In a statement released on Friday, WYZauto stated that this is the inaugural investment from Vynn Capital’s new Mobility and Supply Chain fund, which is supported by AEI Capital, Sime Darby Berhad, Malaysia Venture Capital Management Bhd. (MAVCAP), Malaysian pension fund KWAP, and other regional limited partners.
Along with other regional investors, Vincent Lee, an early backer of Malaysia’s first unicorn, Carsome, is among the new investors welcomed into the funding round.
Current shareholders, such as Kaya Founders, based in the Philippines, are also involved in this round.
It is noteworthy that WYZauto entered Malaysia last year, a country that is ideally positioned as a major hub for the automotive and mobility industries.
Under the terms of this new alliance, Vynn Capital—which leads the mobility investment space and has a thorough understanding of the Malaysian market—will actively assist WYZAuto’s growth in that country.
Vynn Capital approaches its portfolio companies as an active strategic partner, recognizing that they require more than just capital.
The core of their strategy is generating value across the board for investors by utilizing network synergies.
Vynn Capital’s objective in the case of WYZauto is to leverage its existing connections, especially in the mobility and supply chain sector, to facilitate mutually beneficial partnerships that accelerate WYZauto’s growth within the Malaysian market.
“We are very pleased to have Vynn Capital onboard. I realized in our early discussions that they were able to connect us with potential strategic players. Since the start, it is more than just funding,
“Their mobility synergy approach is very relevant for us who aim at optimizing the automotive maintenance industry,” said Founder of WYZauto Louis Giraud.
WYZauto is an online tire marketplace with its headquarters located in Thailand that offers a wide range of premium tire brands to businesses that maintain two- or four-wheel drive vehicles.
The platform aims to streamline the entire vehicle maintenance supply chain by providing car maintenance businesses with access to the largest tyre stock in the nation. It will soon expand its coverage to include other vehicle parts.
