WYZauto An online tire marketplace for auto repair companies located in Thailand has raised $2.25 million in funding, with the lead investor being Malaysia-based venture capital firm Vynn Capital, which specializes in the supply chain and mobility industries.
This is the first investment from Vynn Capital’s new Mobility and Supply Chain Fund, which is supported by Sime Darby Berhad, AEI Capital, Malaysia Venture Capital Management Bhd. (MAVCAP), Malaysian pension fund KWAP, and other regional limited partners, according to a statement released by WYZauto.
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Vincent Lee, an early investor in Malaysia’s first unicorn, Carsome, as well as other regional investors, are among the new investors welcomed into the investment round.
Existing shareholders, notably Kaya Founders, located in the Philippines, are also participating in the round.
It should be mentioned that WYZauto entered Malaysia last year; this country is positioned strategically as a major hub for the automotive and mobility industries.
As part of this new alliance, Vynn Capital will actively support WYZAuto’s expansion in Malaysia thanks to its in-depth knowledge of the country’s market and expertise in mobility investments.
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Being an active strategic partner to portfolio companies is part of Vynn Finance’s approach, which recognizes that they require more than simply finance. Their strategy is centered on generating value across the board in the investment network through synergy.
“Their mobility synergy approach is very relevant for us who aim at optimizing the automotive maintenance industry,” said Founder of WYZauto Louis Giraud.
The platform was released in April 2021 in Thailand and in May 2023 in Malaysia. Almost 3,000 car repair shops have downloaded it, and it is already bringing in over $1.6 million in gross merchandise value (GMV) per month.
About WYZauto
WYZauto is a marketplace connecting vehicle maintenance shops with premium tire wholesalers. They give tire shops access to the largest stock, references, and delivery options of tires within Thailand.
