While talking to an international media outlet, CEO Aaron Tan said that the founders felt there was no dealer of middleman in the in-market they could trust and therefore went about using data and technology to set-up the online site for car buyers and sellers to deal directly with each other. The company's platform created transparency and had tools and services to give buyers and sellers peace of mind. Carro offers end-to-end services for customers and removes the involvement of the middleman.
The company has been reportedly expanding fast and helps its users buy and sell cars. It also includes services like financing, insurance, warranty, workshop, and roadside assistance. On the company's official website, it also has built a fair-price evaluation tool called graph.sg. It further also has an autobody workshop search app Carro Workshop and has recently launched on-demand vehicle trade-in auction marketplace called Carro Express. The company recently also launched a car subscription scheme where users pay a monthly fee for using a car based on the hours of usage per day.
The start-up company is also considering a bid for a digital banking license from the Singapore government. According to international media reports, part of their plans would be to use cloud-based platforms, big data and data science to provide Small and Medium-sized Enterprises (SMEs) with digital-first banking experience. The company has approximately raised $100 million.
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