Carro, a Singapore-based online used car platform, has signed an agreement with fintech company SY Holdings. This partnership will provide tech-driven financing solutions to help Carro expand its business.
Carro said in a statement on Thursday that SY Holdings is a Hong Kong-listed digital intelligence technology company with a focus on artificial intelligence (AI) and industry supply chains.
This partnership will use artificial intelligence, predictive analytics, and API integrations to make processes more efficient, speed up funding, and support faster growth — all while ensuring proper governance and compliance.
“We’re excited to work with new partners like SY Holdings that can move quickly together with us, as we expand into even more markets and explore new propositions like Brand New cars,
“This strategic partnership will give us access to bespoke, AI-driven financing solutions that will not only help align disbursements across our ecosystem in multiple markets, but also optimize the financing supply chain process,” said Aaron Tan, Co-founder and Chief Executive Officer of Carro.
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At the same time, SY Holdings will be able to tap into Carro’s deep experience and expertise with new energy vehicles (NEV) across Asia Pacific.
“Carro’s commitment in AI and NEV, coupled with its recent launch of its Zeekr dealership, resonates strongly with us,
“This partnership will see us working closely to integrate systems that will handle dealership, procurement, and settlement cases within the NEV space, as well as explore supply chain AI capabilities that will include anomaly detections, smart pricing algorithms, real-time data synchronization, and automated reconciliation,” said Kenny Ng, Head of International Partnerships at SY Holdings.
Carro is the largest online marketplace in Asia Pacific for buying and selling used cars, using its technology, AI, and data analytics to power the platform.
The unicorn startup has expanded beyond car sales into a full ecosystem with Carro Care (aftersales services), Genie Financing Services (car financing), and Coverro (insurance), creating a one-stop hub for everything related to car ownership.
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