<\/p>\n
The S$75 million multi-currency loan diversifies Carro\u2019s funding channel, particularly in Malaysia.<\/p>\n
Singapore startup Carro announced\u00a0 <\/span>that it signed a S$75 million multi-currency loan with HSBC, making the home-grown company the first to tap HSBC\u2019s Asean Growth Fund of US$1 billion.<\/p>\n The loan will be used to fund Genie Financial Services, a wholly owned subsidiary of Carrot that provides automotive financing in Singapore Malaysia, Indonesia, and Thailand.<\/p>\n Carro reported over 11 times year-on-year earnings before interest, depreciation, and amortisation (Ebitda) growth to hit a record US$34 million, based on its latest financial year ended Mar 31, 2024.<\/p>\n The Singapore-based online used car marketplace, which currently operates in seven markets, previously raised over S$700 million from SoftBank Vision Fund and several sovereign funds.<\/p>\n \u201cSecuring this landmark financing from HSBC is a huge validation of our digital ecosystem-led business model. This enables us to serve the underserved consumer segment even better,\u201d said Aaron Tan, co-founder and chief executive officer of Carro.<\/p>\n Ernest Chew, chief financial officer of Carro, added: \u201cThis significantly strengthens our balance sheet and diversifies our funding channel particularly in Malaysia, so that we can focus on growing our business more effectively.\u201d<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" The S$75 million multi-currency loan diversifies Carro\u2019s funding channel, particularly in Malaysia. Singapore startup Carro announced\u00a0 that it signed a S$75 million multi-currency loan with HSBC, making the home-grown company the first to tap HSBC\u2019s Asean Growth Fund of US$1 billion. The loan will be used to fund Genie Financial Services, a wholly owned subsidiary […]<\/p>\n","protected":false},"author":1,"featured_media":1936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/06\/Singapore-68-1-901x445.jpg",901,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/06\/Singapore-68-1-463x348.jpg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/06\/Singapore-68-1-300x233.jpg",300,233,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/06\/Singapore-68-1.jpg",901,700,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=1935"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1935\/revisions"}],"predecessor-version":[{"id":1937,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1935\/revisions\/1937"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/1936"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=1935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=1935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=1935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}