Carro team photo with co-founders Aaron Tan (CEO), Aditya Lesmana and Kelvin Chng. Photo credit: Vulcan Post.

Have you ever bought a car online? If not, you should give Carro a try!

Founded in 2015 by Aaron Tan, Carro set out to revolutionise the car buying and selling experience. Since its inception, Aaron envisioned an online marketplace that offered an end-to-end ownership ecosystem, including reliable inspections, in-house financing, insurance, warranties, and after-sales services.

Aaron Tan, co-founder and CEO of Carro. Photo credit: Tech in Asia.

Carro's proprietary pricing algorithms, AI-driven capabilities, and cutting-edge technology have made it easy for anyone to shop for cars without visiting a showroom — a truly seamless experience for both consumers and dealers.

So, what inspired Aaron to launch Carro?

The Vision Behind Carro: The 'Blue Ocean Strategy'

When Aaron returned to Singapore from the US, he noticed the fragmented nature of the used-car market. Unlike in the US, where resources like the Kelley Blue Book exist, Asia lacked a prominent player in the pre-owned car space.

Recognising a 'Blue Ocean' opportunity — an untapped market with immense potential — Aaron leveraged his engineering background and passion for cars to create Carro. Alongside co-founders Aditya Lesmana and Kelvin Chng, he aimed to establish the platform as the "Amazon.com of cars," incubating it in BLOCK71 .

Carro's Game-Changing Innovation

Carro certified cars with 160-point inspection, warranties and guarantees. Photo credit: The Straits Times - Business.

Carro employs a unique algorithm to evaluate car values, analyse extensive data and scan vehicle images for potential issues, complemented with mechanic inspections. This AI-powered approach offers transparency and efficiency, attracting both consumers and dealers. VCs were also drawn to this groundbreaking technology and they invested in the company's growth .

Carro has since expanded beyond Singapore, establishing a presence in Malaysia, Indonesia, Thailand, Taiwan, Vietnam, Myanmar, Hong Kong, and China. In June 2021, Carro raised US$360 million in a Series C round, becoming Southeast Asia's first automotive marketplace unicorn .

Carro's journey is a testament to the power of a great idea, relentless effort, and the right support and connections, propelling it to market leadership. As the company continues to innovate, it has even more remarkable achievements ahead, including a planned IPO debut.

Aaron’s double beginnings at BLOCK71

Other than starting Carro’s journey with us, Aaron also contributed to establishing BLOCK71 during his time as a VC at Singtel Innov8, the telco’s venture capital arm.

We're incredibly proud of Aaron's achievements in Carro, exemplifying the visionary entrepreneurs we support!

We empower founders 

So dear friend of the block, are you ready to start your entrepreneurial journey?

At BLOCK71, we provide the resources, networking opportunities, and expert connections to accelerate your business growth.

Follow Carro’s footsteps and elevate your venture to new heights when you incubate with us today.