“Calling ourselves successful is like resting on our laurels and I hope that day never comes. We should never be complacent. We always need that drive and hunger to propel us forward,” says Aaron Tan, CEO and founder of Carro, an online used car marketplace that recently secured US$5.3 million in funding.
While Carro is fortunate to have the right investors on board, Tan reveals that market adoption is still a challenge as Singaporeans tend to be sceptical of new start-ups. But the team managed to pull the company through by building a secure and honest car dealership service that tackled the transparency issues traditionally associated with the second-hand market. Carro is now at gross revenues of S$100 million run-rate, an accomplishment that Tan, a car enthusiast himself, plainly attributes to “true grit, hard work, and a good team”.
Formerly a venture capitalist with Singtel Innov8, Tan always wanted to strike out on his own. And now that Carro has taken off superbly, he’s paving the way for regional expansion and is aiming for “Carro’s name to be top of mind whenever someone buys and sells a car”.