# Carro

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/carro

- Industry: Retail
- Headquarters: Singapore, Singapore
- Website: www.carro.co
- Total disclosed funding: $543M
- Latest round: Series C (Mar 2, 2023)
- Investors on record: 43

## About

Based in Singapore, and founded in 2015, Trusty Cars, Ltd. d.b.a., Carro, an online car marketplace that enables users to buy, sell, and loan a wide variety of cars. The company was founded by Aaron Tan (CEO). In September 2026, Carro raised venture funding from Orient Corporation.

The company offers an automotive marketplace that sells second-hand cars and provides services that offer car owners the facilities they need throughout their car ownership. The company's services include car rental and leasing, buying used cars from users, used car loans, COE renewal loans, and CARRO workshops. The platform's features include an AI-powered technology and pricing algorithm that calculates the car's ideal price for selling, and the buyers can also chat with the car seller directly for car inquiries, test-drive scheduling, and settling the terms and payment.

The company will use the September 2026 funding to expand its market reach.

## Funding rounds

- Series C, Mar 2, 2023, $464M — Temasek Holdings, Granite Asia, Mitsui Sumitomo Insurance, Shinhan Asset Management, SG Growth Capital, Janchor Partners, SBVA, Endeavor Catalyst, PT Mitra Pinasthika Mustika, East Ventures, Alpha JWC Ventures, B Capital, SB Investment Advisers, Beacon Venture Capital, Insignia Ventures Partners, Philippine National Bank, Ion Pacific, Mirae Asset Securities, Greater Honour International, Sime Singapore, Celestial Sage International, Aldama Investments, EON PROTON Division, CMPL Angel Seed Fund, Peak3
- Series B, Feb 7, 2020, $6M — SBVA, Golden Gate Ventures, Mitsubishi, MS&AD Ventures
- Series B, Dec 28, 2019, $30M — SG Growth Capital, Singtel Innov8, SBVA, Golden Gate Ventures, Alpha JWC Ventures, B Capital, Insignia Ventures Partners, NCORE Ventures, Hanwha Asset Management, The Dietrich Foundation, GxH Investments Pte. Ltd.
- Series B, Jul 10, 2018, $30M — Singtel Innov8, SBVA, Golden Gate Ventures, Alpha JWC Ventures, Venturra Capital, B Capital, Zebra Global Capital, Insignia Ventures Partners, Beeblebrox, One Hill Capital, SoftBank Ventures Korea Corp.
- Series A, Mar 23, 2017, $9.5M — Singtel Innov8, SBVA, Golden Gate Ventures, GMO VenturePartners, Alpha JWC Ventures, Venturra Capital, Skystar Capital, Zebra Global Capital, Koru Partners, One Hill Capital, Panda Online Pte. Ltd.
- Series A, May 27, 2016, $3.8M — Singtel Innov8, Golden Gate Ventures, GMO VenturePartners, Alpha JWC Ventures, Venturra Capital, Skystar Capital, Coffee Ventures, Koru Partners

## Investors

- Singtel Innov8 (https://capitalatlas.ai/funds/singtel-innov8) — Series A, Series B
- Golden Gate Ventures (https://capitalatlas.ai/funds/golden-gate-ventures) — Series A, Series B
- GMO VenturePartners (https://capitalatlas.ai/funds/gmo-venturepartners) — Series A
- Alpha JWC Ventures (https://capitalatlas.ai/funds/alpha-jwc-ventures) — Series A, Series B, Series C
- Venturra Capital (https://capitalatlas.ai/funds/venturra-capital) — Series A, Series B
- Skystar Capital (https://capitalatlas.ai/funds/skystar-capital) — Series A
- Coffee Ventures (https://capitalatlas.ai/funds/coffee-ventures) — Series A
- Koru Partners (https://capitalatlas.ai/funds/koru-partners) — Series A
- SBVA (https://capitalatlas.ai/funds/sbva) — Series A, Series B, Series C
- Zebra Global Capital (https://capitalatlas.ai/funds/zebra-global-capital) — Series A, Series B
- One Hill Capital — Series A, Series B
- Panda Online Pte. Ltd. — Series A
- B Capital (https://capitalatlas.ai/funds/b-capital) — Series B, Series C
- Insignia Ventures Partners (https://capitalatlas.ai/funds/insignia-ventures-partners) — Series B, Series C
- Beeblebrox — Series B
- SoftBank Ventures Korea Corp. — Series B
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series B, Series C
- NCORE Ventures (https://capitalatlas.ai/funds/ncore-ventures) — Series B
- Hanwha Asset Management (https://capitalatlas.ai/funds/hanwha-asset-management) — Series B
- The Dietrich Foundation — Series B
- GxH Investments Pte. Ltd. — Series B
- Mitsubishi — Series B
- MS&AD Ventures (https://capitalatlas.ai/funds/ms-ad-ventures) — Series B
- Temasek Holdings — Series C
- Granite Asia (https://capitalatlas.ai/funds/granite-asia) — Series C
- Mitsui Sumitomo Insurance — Series C
- Shinhan Asset Management (https://capitalatlas.ai/funds/shinhan-asset-management) — Series C
- Janchor Partners — Series C
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series C
- PT Mitra Pinasthika Mustika — Series C
- East Ventures (https://capitalatlas.ai/funds/east-ventures) — Series C
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C
- Beacon Venture Capital (https://capitalatlas.ai/funds/beacon-venture-capital) — Series C
- Philippine National Bank — Series C
- Ion Pacific (https://capitalatlas.ai/funds/ion-pacific) — Series C
- Mirae Asset Securities (https://capitalatlas.ai/funds/mirae-asset-securities) — Series C
- Greater Honour International — Series C
- Sime Singapore — Series C
- Celestial Sage International — Series C
- Aldama Investments — Series C
- EON PROTON Division — Series C
- CMPL Angel Seed Fund — Series C
- Peak3 — Series C