{"id":10965,"date":"2020-12-08T11:18:11","date_gmt":"2020-12-08T03:18:11","guid":{"rendered":"https:\/\/blog.carro.sg\/?p=10965"},"modified":"2025-11-18T18:57:29","modified_gmt":"2025-11-18T10:57:29","slug":"the-business-times-carro-confirms-new-funding-claims-to-be-on-track-for-s1b-run-rate-by-2022","status":"publish","type":"post","link":"https:\/\/carro.co\/sg\/blog\/the-business-times-carro-confirms-new-funding-claims-to-be-on-track-for-s1b-run-rate-by-2022\/","title":{"rendered":"The Business Times: Carro confirms new funding; claims to be on track for S$1b run rate by 2022"},"content":{"rendered":"This article first appeared on <a href=\"https:\/\/www.businesstimes.com.sg\/garage\/news\/carro-confirms-new-funding-claims-to-be-on-track-for-s1b-run-rate-by-2022\" rel=\"nofollow noopener\" target=\"_blank\">The Business Times<\/a>, written by Sharanya Pillai.\r\n<blockquote>USED car marketplace Carro raised close to US$150 million in debt financing facilities, as well as fresh equity from new investors Mitsubishi Corp and MS&amp;AD Ventures this year, the startup announced on Wednesday.\r\n\r\nAccording to regulatory data on intelligence platform VentureCap Insights, Carro raised US$6 million from Mitsubishi and MS&amp;AD Ventures, the venture arm of MS&amp;AD Insurance Group Holdings, in July. Its post-money valuation stood at US$289.1 million.\r\n\r\nCarro declined to confirm the specific amount raised in the round. However, the five-year-old startup added that the debt financing facilities of close to S$150 million puts it in a \"strong cash and liquidity position\".\r\n\r\nSeparately, Carro's chief financial officer Ernest Chew told BT that Carro expects to hit S$1 billion in annualised revenue run rate by 2022. This figure is more than 15 times Carro\u2019s revenue for FY2019 ended March.<\/blockquote>\r\nRead the full article <a href=\"https:\/\/www.businesstimes.com.sg\/garage\/news\/carro-confirms-new-funding-claims-to-be-on-track-for-s1b-run-rate-by-2022\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a>.","protected":false},"excerpt":{"rendered":"<p>This article first appeared on The Business Times, written by Sharanya Pillai. USED car marketplace Carro raised close to US$150 million in debt financing facilities, as well as fresh equity from new investors Mitsubishi Corp and MS&amp;AD Ventures this year, the startup announced on Wednesday. According to regulatory data on intelligence platform VentureCap Insights, Carro &hellip;<\/p>\n","protected":false},"author":2,"featured_media":10733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[727],"tags":[],"class_list":["post-10965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-announcements"],"_links":{"self":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/10965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/comments?post=10965"}],"version-history":[{"count":1,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/10965\/revisions"}],"predecessor-version":[{"id":14476,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/10965\/revisions\/14476"}],"wp:attachment":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media?parent=10965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/categories?post=10965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/tags?post=10965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}