Carro valuation, funding and investors

carro.co ↗LinkedIn ↗

Carro works in online car marketplace services, based in Singapore. Founded in 2015, it has about 1,380 employees.

Automobile Dealers & Manufacturers Singapore Growth Equity

VALUATION · TODAY

$664M +0% after Growth

Range $384M – $1.01B · Grade B

TODAY

+12 MO

$500M

$1.00B

$1.50B

$2.00B

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Series A $5.30M

Series C $360M

Growth $60.0M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY1,383 employees

+13%6m growth

+20%1y growth

+65%2y growth

1,000

2,000

Data from May 2023

TODAY

Predicted in 1 yr $664M +0% vs today

Predicted next raise $68.8M if a round comes

Winding-down probability 0%

Last round: Growth · $60.0M · Sep 2025
Valuation at last round: $580M · implied
Headcount: 1,383 · up
Grade: B
Founded: 2015

How VCMC values companies →

Carro valuation today

VCMC values Carro at $664M today, with a range of $384M to $1.0B and a grade of B. The valuation starts from its last funding round, a growth round in Sep 2025.

Valuation by date (146 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Carro: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2015	$2.03M	$0.74M – $5.59M	$2.13M (+5%)	before first round	–	unknown	D	0%
1 Feb 2015	$2.04M	$0.74M – $5.61M	$2.14M (+5%)	before first round	–	unknown	D	0%
1 Mar 2015	$2.05M	$0.75M – $5.63M	$2.15M (+5%)	before first round	–	unknown	D	0%
1 Apr 2015	$2.06M	$0.75M – $5.65M	$2.16M (+5%)	before first round	–	unknown	D	0%
1 May 2015	$2.07M	$0.75M – $5.67M	$2.16M (+5%)	before first round	–	unknown	D	0%
1 Jun 2015	$2.07M	$0.75M – $5.70M	$2.17M (+5%)	before first round	–	unknown	D	0%
1 Jul 2015	$2.08M	$0.76M – $5.72M	$2.18M (+5%)	before first round	–	unknown	D	0%
1 Aug 2015	$2.09M	$0.76M – $5.74M	$2.24M (+7%)	before first round	–	unknown	D	0%
1 Sep 2015	$2.10M	$0.76M – $5.76M	$2.30M (+10%)	before first round	–	unknown	D	0%
1 Oct 2015	$2.11M	$0.77M – $5.79M	$2.36M (+12%)	before first round	–	unknown	D	0%
1 Nov 2015	$2.11M	$0.77M – $5.81M	$2.42M (+15%)	before first round	–	unknown	D	0%
1 Dec 2015	$2.12M	$0.77M – $5.83M	$2.49M (+17%)	before first round	–	unknown	D	0%
1 Jan 2016	$2.13M	$0.78M – $5.85M	$2.55M (+20%)	before first round	–	unknown	D	0%
1 Feb 2016	$2.14M	$0.78M – $5.88M	$2.62M (+23%)	before first round	–	unknown	D	0%
1 Mar 2016	$2.15M	$0.78M – $5.90M	$2.69M (+25%)	before first round	–	unknown	D	0%
1 Apr 2016	$2.16M	$0.78M – $5.92M	$2.76M (+28%)	before first round	–	unknown	D	0%
1 May 2016	$2.16M	$0.79M – $5.95M	$2.84M (+31%)	before first round	–	unknown	D	0%
1 Jun 2016	$2.17M	$0.79M – $5.97M	$2.91M (+34%)	before first round	–	unknown	D	0%
14 Jun 2016	$25.6M	$16.8M – $70.1M	$46.1M (+80%)	after a round	–	unknown	C	0%
1 Jul 2016	$26.4M	$16.8M – $70.1M	$46.1M (+75%)	after a round	–	unknown	C	0%
1 Aug 2016	$27.7M	$16.8M – $70.1M	$46.1M (+66%)	after a round	–	unknown	C	0%
1 Sep 2016	$29.1M	$16.8M – $70.1M	$46.1M (+58%)	after a round	–	unknown	C	0%
1 Oct 2016	$30.6M	$16.8M – $70.1M	$46.1M (+51%)	after a round	–	unknown	C	0%
1 Nov 2016	$32.1M	$16.8M – $70.1M	$46.1M (+43%)	after a round	–	unknown	C	0%
1 Dec 2016	$33.7M	$16.8M – $70.1M	$46.1M (+37%)	after a round	–	unknown	C	0%
1 Jan 2017	$35.4M	$16.8M – $70.1M	$46.1M (+30%)	after a round	–	unknown	C	0%
1 Feb 2017	$37.3M	$16.8M – $70.1M	$46.1M (+24%)	after a round	–	unknown	C	0%
1 Mar 2017	$39.0M	$16.8M – $70.1M	$46.1M (+18%)	after a round	–	unknown	C	0%
1 Apr 2017	$41.0M	$16.8M – $70.1M	$46.1M (+13%)	after a round	–	unknown	C	0%
1 May 2017	$43.0M	$16.8M – $70.1M	$46.1M (+7%)	after a round	–	unknown	C	0%
1 Jun 2017	$45.2M	$16.8M – $70.1M	$46.1M (+2%)	after a round	–	unknown	C	0%
1 Jul 2017	$46.1M	$16.3M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Aug 2017	$46.1M	$15.5M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Sep 2017	$46.1M	$14.8M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Oct 2017	$46.1M	$14.0M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Nov 2017	$46.1M	$13.4M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Dec 2017	$46.1M	$12.7M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Jan 2018	$46.1M	$12.1M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Feb 2018	$46.1M	$11.5M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Mar 2018	$46.1M	$11.0M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Apr 2018	$46.1M	$10.4M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 May 2018	$46.1M	$9.92M – $70.1M	$46.1M (0%)	after a round	–	unknown	C	0%
1 Jun 2018	$46.1M	$9.42M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jul 2018	$46.1M	$8.97M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Aug 2018	$46.1M	$8.53M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Sep 2018	$46.1M	$8.10M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Oct 2018	$46.1M	$7.71M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Nov 2018	$46.1M	$7.33M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Dec 2018	$46.1M	$6.98M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jan 2019	$46.1M	$6.63M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Feb 2019	$46.1M	$6.30M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Mar 2019	$46.1M	$6.02M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Apr 2019	$46.1M	$5.72M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 May 2019	$46.1M	$5.44M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jun 2019	$46.1M	$5.17M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jul 2019	$46.1M	$4.93M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Aug 2019	$46.1M	$4.68M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Sep 2019	$46.1M	$4.45M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Oct 2019	$46.1M	$4.23M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Nov 2019	$46.1M	$4.02M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Dec 2019	$46.1M	$3.83M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jan 2020	$46.1M	$3.64M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Feb 2020	$46.1M	$3.46M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Mar 2020	$46.1M	$3.30M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Apr 2020	$46.1M	$3.14M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 May 2020	$46.1M	$2.98M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jun 2020	$46.1M	$2.84M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jul 2020	$46.1M	$2.70M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Aug 2020	$46.1M	$2.57M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Sep 2020	$46.1M	$2.44M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Oct 2020	$46.1M	$2.32M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Nov 2020	$46.1M	$2.21M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Dec 2020	$46.1M	$2.10M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jan 2021	$46.1M	$2.00M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Feb 2021	$46.1M	$1.90M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Mar 2021	$46.1M	$1.81M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Apr 2021	$46.1M	$1.72M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 May 2021	$46.1M	$1.68M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
1 Jun 2021	$46.1M	$1.68M – $70.1M	$46.1M (0%)	after a round	–	unknown	D	0%
16 Jun 2021	$1.0B	$869M – $1.5B	$1.3B (+30%)	after a round	–	unknown	A	0%
1 Jul 2021	$1.0B	$869M – $1.5B	$1.3B (+29%)	after a round	–	unknown	A	0%
1 Aug 2021	$1.0B	$869M – $1.5B	$1.3B (+26%)	after a round	–	unknown	A	0%
1 Sep 2021	$1.1B	$869M – $1.5B	$1.3B (+23%)	after a round	–	unknown	A	0%
1 Oct 2021	$1.1B	$869M – $1.5B	$1.3B (+20%)	after a round	–	unknown	A	0%
1 Nov 2021	$1.1B	$869M – $1.5B	$1.3B (+18%)	after a round	–	unknown	A	0%
1 Dec 2021	$1.1B	$869M – $1.5B	$1.3B (+15%)	after a round	–	unknown	A	0%
1 Jan 2022	$1.2B	$869M – $1.5B	$1.3B (+13%)	after a round	–	unknown	A	0%
1 Feb 2022	$1.2B	$869M – $1.5B	$1.3B (+10%)	after a round	–	unknown	A	0%
1 Mar 2022	$1.2B	$869M – $1.5B	$1.3B (+8%)	after a round	–	unknown	A	0%
1 Apr 2022	$1.2B	$869M – $1.5B	$1.3B (+6%)	after a round	–	unknown	A	0%
1 May 2022	$1.3B	$869M – $1.5B	$1.3B (+3%)	after a round	–	unknown	A	0%
1 Jun 2022	$1.3B	$869M – $1.5B	$1.3B (+1%)	after a round	–	unknown	A	0%
1 Jul 2022	$1.3B	$849M – $1.5B	$1.3B (0%)	after a round	–	unknown	A	0%
1 Aug 2022	$1.3B	$811M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 Sep 2022	$1.3B	$774M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 Oct 2022	$1.3B	$740M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 Nov 2022	$1.3B	$706M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 Dec 2022	$1.3B	$675M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 Jan 2023	$1.3B	$645M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 Feb 2023	$1.3B	$615M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 Mar 2023	$1.3B	$590M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 Apr 2023	$1.3B	$563M – $1.5B	$1.3B (0%)	after a round	–	unknown	B	0%
1 May 2023	$1.3B	$539M – $1.5B	$1.3B (0%)	after a round	530	unknown	B	0%
1 Jun 2023	$1.3B	$514M – $1.5B	$1.3B (0%)	after a round	530	unknown	B	0%
1 Jul 2023	$1.3B	$465M – $1.5B	$1.3B (0%)	after a round	530	unknown	B	0%
1 Aug 2023	$1.3B	$442M – $1.5B	$1.3B (0%)	after a round	530	unknown	C	0%
1 Sep 2023	$1.3B	$420M – $1.5B	$1.3B (0%)	after a round	530	unknown	C	0%
1 Oct 2023	$1.3B	$400M – $1.5B	$1.3B (-2%)	after a round	570	flat	C	0%
1 Nov 2023	$1.3B	$380M – $1.5B	$1.3B (-3%)	after a round	570	flat	C	0%
1 Dec 2023	$1.3B	$362M – $1.5B	$1.3B (-3%)	after a round	570	flat	C	0%
1 Jan 2024	$1.3B	$344M – $1.5B	$1.2B (-4%)	after a round	570	flat	C	0%
1 Feb 2024	$1.3B	$327M – $1.5B	$1.2B (-5%)	after a round	570	flat	C	0%
1 Mar 2024	$1.3B	$593M – $1.5B	$1.3B (-2%)	after a round	650	up	B	0%
1 Apr 2024	$1.3B	$582M – $1.5B	$1.3B (-3%)	after a round	650	up	B	0%
1 May 2024	$1.3B	$571M – $1.5B	$1.3B (-3%)	after a round	650	up	B	0%
1 Jun 2024	$1.3B	$560M – $1.5B	$1.3B (-3%)	after a round	650	up	B	0%
1 Jul 2024	$1.3B	$434M – $1.5B	$1.3B (-3%)	after a round	650	up	C	0%
1 Aug 2024	$1.3B	$768M – $1.5B	$1.3B (0%)	after a round	840	growing	B	0%
1 Sep 2024	$1.3B	$758M – $1.5B	$1.3B (0%)	after a round	840	growing	B	0%
1 Oct 2024	$1.3B	$749M – $1.5B	$1.3B (0%)	after a round	840	growing	B	0%
1 Nov 2024	$1.3B	$740M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 Dec 2024	$1.3B	$730M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 Jan 2025	$1.3B	$721M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 Feb 2025	$1.3B	$712M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 Mar 2025	$1.3B	$704M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 Apr 2025	$1.3B	$695M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 May 2025	$1.3B	$686M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 Jun 2025	$1.3B	$678M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 Jul 2025	$1.3B	$593M – $1.5B	$1.3B (0%)	after a round	900	growing	B	0%
1 Aug 2025	$1.3B	$584M – $1.5B	$1.3B (0%)	after a round	1,134	growing	B	0%
1 Sep 2025	$1.3B	$575M – $1.5B	$1.3B (0%)	after a round	1,148	growing	B	0%
18 Sep 2025	$580M	$381M – $971M	$638M (+10%)	after a round	1,148	growing	B	0%
1 Oct 2025	$582M	$381M – $971M	$638M (+10%)	after a round	1,148	growing	B	0%
1 Nov 2025	$587M	$381M – $972M	$639M (+9%)	after a round	1,156	growing	B	0%
1 Dec 2025	$591M	$381M – $972M	$639M (+8%)	after a round	1,156	growing	B	0%
1 Jan 2026	$598M	$386M – $984M	$646M (+8%)	after a round	1,221	growing	B	0%
1 Feb 2026	$604M	$386M – $984M	$646M (+7%)	after a round	1,221	growing	B	0%
1 Mar 2026	$609M	$386M – $984M	$646M (+6%)	after a round	1,221	growing	B	0%
1 Apr 2026	$615M	$386M – $984M	$646M (+5%)	after a round	1,221	growing	B	0%
1 May 2026	$620M	$386M – $984M	$646M (+4%)	after a round	1,221	growing	B	0%
1 Jun 2026	$633M	$393M – $1.0B	$657M (+4%)	after a round	1,317	up	B	0%
1 Jul 2026	$640M	$393M – $1.0B	$657M (+3%)	after a round	1,317	up	B	0%
1 Aug 2026	$647M	$393M – $1.0B	$657M (+2%)	after a round	1,317	up	B	0%
1 Sep 2026	$659M	$396M – $1.0B	$663M (+1%)	after a round	1,366	up	B	0%
1 Oct 2026	$664M	$392M – $1.0B	$664M (0%)	after a round	1,383	up	B	0%
24 Oct 2026	$664M	$384M – $1.0B	$664M (0%)	after a round	1,383	up	B	0%

Key facts about Carro

Founded: 2015
Headquarters: Singapore
Employees: about 1,380 +20% in a year
Total raised: $436M
Funding rounds: 4
Last round: Growth Equity Sep 2025

Carro was founded in 2015 by Aaron Tan, Aditya Lesmana and Kelvin Chng.

Carro funding history

Carro has 4 funding rounds on record, from Jun 2016 to Sep 2025, $436M in total. The latest disclosed valuation is $1.00B post-money (Series C, Jun 2021).

Growth Equity 17 Sep 2025
Led by Cool Japan Fund.
Sources: prnewswire.com, sg.finance.yahoo.com
$60M
Series C 15 Jun 2021
Led by SoftBank Vision Fund; with EV Growth, MS&AD Ventures, Ion Pacific, Endeavor, MSIG Holdings Vietnam, Beacon Venture Capital.
Sources: decisioning.it, theasset.com
$360M
$1.00B post-money
Other 1 Aug 2020no round page
With SoftBank Ventures Asia, Mitsubishi, MS&AD Ventures, GXH Investments.
$11M
Series A 13 Jun 2016
Led by Ventura Capital; with Singtel Innov8, Golden Gate Ventures, Alpha JWC Ventures, Skystar Capital, GMO VenturePartners, Coffee Ventures.
Sources: techcrunch.com, sg.news.yahoo.com, vulcanpost.com and 1 more
$5.3M

Carro investors

18 investors have backed Carro; Cool Japan Fund, SoftBank Vision Fund and Ventura Capital led at least one round.

Cool Japan Fund lead
SoftBank Vision Fund lead
Endeavor
EV Growth
GXH Investments
Mitsubishi
MSIG Holdings Vietnam
Singtel Innov8

What Carro does

Carro works in automobile dealers & manufacturers, with 15 recorded offerings and customers in automotive.

Trusty Cars Pte. Ltd., DBA Carro, is a Singaporean private company operating as an online marketplace specializing in the buying, selling, and leasing of new and used cars. The company also provides car rental, leasing, car loan, car repair and maintenance through its workshop, and car insurance services. Carro serves customers in Singapore, Indonesia, Thailand, Malaysia, Japan, Taiwan, and Hong Kong, and is supported by a network of authorized dealers. The company is certified and operates under anti-money laundering and counter-terrorism financing policies.

Description from Veridion's company data.

Products and services

Online Car Marketplace Services
Used Car Buying and Selling
New Car Buying and Selling
Car Leasing and Rental Services
Car Subscription and Warranty Services
Lease to Own Car Services
Car Loan Services
Car Insurance Services
Vehicle Repair and Maintenance Services
Dealer Network Integration Services
Automated Dealer Automation Solutions
Vehicle Quality Assurance and Inspection Services
Cross-Border Car Marketplace Services
E-Commerce Platform Development for Automotive
Data Analytics and Insights Services

Markets

Automotive

Technology

AI-Driven Car Marketplace
Proprietary Pricing Algorithms
Data Science for Vehicle Analytics

Business model

Business-to-Business
Business-to-Consumer
Service Provider
Retail
Subscription-Based
Marketplace

Questions about Carro

What is Carro worth?

Valuation $664M (range $384M to $1.0B), as of 24 Oct 2026. The last disclosed valuation was $1.00B (Series C, Jun 2021).

Has Carro raised money?

Carro has 4 funding rounds on record, from Jun 2016 to Sep 2025, $436M in total. The latest disclosed valuation is $1.00B post-money (Series C, Jun 2021).

Who has invested in Carro?

Cool Japan Fund, SoftBank Vision Fund, Ventura Capital, MS&AD Ventures, Alpha JWC Ventures and Beacon Venture Capital, and 12 more. Lead investors include Cool Japan Fund, SoftBank Vision Fund and Ventura Capital.

How many people work at Carro?

About 1,380, up 20% over the last year. Headcount grew from 530 in May 2023 to 1,383 in Sep 2026.

What does Carro do?

Carro works in automobile dealers & manufacturers, with 15 recorded offerings and customers in automotive. Its main offerings are online car marketplace services, used car buying and selling and new car buying and selling.

When was Carro founded, and where is it based?

Carro was founded in 2015 and is based in Singapore. It has about 1,380 employees, up 20% over the last year.

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