Tokyo Century Leasing (Singapore) led a Series A strategic investment in Motorist at USD60 million valuation. Following the strategic investment in Motorist by Tokyo Century Leasing (Singapore), a major player in vehicle financing, there are greater opportunities for “twin-turbo” collaboration between the two companies to boost the efficiency and accessibility of lending solutions for customers.
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This ties in with Motorist’s aim of simplifying vehicle ownership, with a comprehensive range of services that cater to all aspects of owning a vehicle, especially if it’s a car. Through thisinvestment, the Tokyo Century Group will promote the development and reinforcement of online sales channels at TCS and also achieve further growth for its automotive business in the Asia-Pacific region by expanding its collaboration with Motorist in other ASEAN countries such as Malaysia and Thailand.
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The investment by Tokyo Century Leasing (Singapore) adds power to the “engine” that drives the Motorist ecosystem, which has facilitated the buying and selling of more than USD1 billion worth of vehicles since its founding in 2015. The automotive technology startup achieved this milestone in 2023, just five years after hitting USD100 million in total vehicle sales transactions.
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Even more important than the thousands of cars which changed hands with expert help from Motorist is the overall experience for the many more consumers and dealers involved.
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According to Damian Sia, founder and CEO of Motorist, the company is seeking additional investors for its Series A round and building a network of strategic partnerships that can bring holistic improvements to the automotive business.
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About Motorist
Motorist, headquartered in Singapore, was founded in 2015, after our founder Damian Sia tried selling his car on his own. As a first-time seller, he encountered many unreasonable offers from unethical buyers who tried to take advantage of his inexperience. He was also unsure on the sales and vehicle transfer process, as there were several documents to be handed in.
About Tokyo Century Leasing
Founded in 1969, Tokyo Century Group meets the facilities-investment-and-financing needs of clients around the globe with operating bases in Japan and 37 countries and regions worldwide.
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