Singapore’s first auto marketplace to achieve unicorn status
Singapore’s first auto marketplace to achieve unicorn status, Carro has acquired $360 million in funding from SoftBank. The new financing round will help them expand their services into Southeast Asia and beyond as they continue to grow at an unprecedented rate.
Carro is preparing for a public listing in the U.S., which could happen within 18 to 24 months, according to Tan’s interview with Reuters. These preparations come after Carro undisclosed millions worth of Series A funding earlier this year that will help propel them into international markets while also fueling domestic growth initiatives through acquisitions and organic expansion efforts.