PRNewswire
Singapore, September 18: Carro, a leading online car marketplace in the Asia Pacific (excluding China and India), has announced a round of strategic investment by Orient Corporation ("Orico"), a major Japanese consumer credit and financial services company. Through this investment, Orico will act as a strategic partner to Carro and will, as a first step, advance collaboration in the automotive financing and related businesses in Japan, Thailand and Indonesia – the markets in which both companies operate. Strategic investment will see collaboration across mobility and financial services. Initial collaboration will focus on automotive financing and related businesses in Japan, Thailand and Indonesia.
"We're excited to partner with Orico and integrate our digital vehicle commerce with their financial services, creating a more seamless experience for both our retail consumers and wholesale dealers," says Carro Co-founder and Group CEO Aaron Tan.
"We're expecting strong demand for automotive financing driven by growth in both new and used vehicles, underpinned by the expansion of the middle class," says Makoto Umemiya, CEO of Orico. "At the same time, the rapid digitalisation of sales channels, alongside the AI-driven advancement of vehicle appraisal and credit assessment is reshaping the sector. We believe Carro's digital customer acquisition capabilities, its proprietary AI-based credit assessment and vehicle valuation, and its vehicle distribution capabilities including EVs will contribute to strengthening Orico's international growth strategy."
Founded in 1954, Orico is a leading Japanese financial services company with deep expertise in credit and payments, offering a broad range of solutions including consumer finance, credit cards, automotive financing, loan guarantees and settlement services. With a strong customer and merchant network and decades of experience in credit assessment and financial services, Orico connects consumers, businesses and financial institutions through innovative financing and payment solutions
Carro is a leading online car marketplace in the Asia Pacific (excluding China and India). The company transacted over 120,000 units of new and used vehicles in FY2026 and is active across 8 markets. It is a leading auto fintech, auto digital insurance broker and aftersales service provider in the region.
About Orient Corporation ("Orico")
Founded in 1954, Orient Corporation is a comprehensive financial services company that offers a wide range of financial services to individuals, corporations, and financial institutions. Orico leverages strengths in Japan's leading auto finance business, extensive dealer and partner network, and long-cultivated credit expertise to grow our business. Orico also operates auto loan businesses in Thailand, the Philippines, and Indonesia.
About Carro
Founded in 2015, Carro is a leading online car marketplace in the Asia Pacific (excluding China and India). By offering a trustworthy and transparent experience, Carro transforms the traditional way of buying and selling cars through proprietary pricing algorithms, AI-enabled capabilities, and innovative technological solutions. In 2025, Carro expanded its product line to include Brand New cars in Singapore and Malaysia, offering customers even more options.
Headquartered in Singapore, the unicorn startup has raised over S$700 million from Softbank Vision Fund as well as several sovereign funds and government-linked investors. Together with its subsidiaries and business lines, Carro is supported by more than 4,500 employees across Asia Pacific:
* Carro, Asia Pacific's largest online used marketplace with a strong key presence in Singapore, Malaysia, Indonesia, Thailand, Japan, Taiwan region, Hong Kong SAR and Australia
* Carro Care, Carro's in-house refurbishment and after-sales servicing capabilities
* Genie Financial Services, a next-generation fintech automotive financing provider in Singapore, Malaysia, Indonesia and Thailand
* Carro Auction, a leading automotive auction platform in Thailand
* MPM Rent, leading mobility solutions company in Indonesia specialising in leasing / fleet financing transportation services
* Innorithm, a next-generation fleet management solutions company leveraging state-of-the art IoT and machine learning
* Kaidee, Thailand's largest online shopping and classifieds platform
* Driven Communications, leading Malaysian integrated digital content & marketing services agency including notable sites like paultan.org
For more information, please visit: www.carro.co.
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Carro secures strategic investment from Orico
