Carro to work with fintech platform SY Holdings

SINGAPORE: Carro has signed a memorandum of understanding with fintech platform SY Holdings, to support Carro’s expansion plans through tech-enabled financing solutions.

Carro is Asia Pacific’s largest and fastest-growing online used car platform.

SY Holdings is a Hong Kong-listed digital intelligence technology company with a focus on AI and industry supply chains.

This strategic partnership will leverage artificial intelligence, predictive analytics and API-based integrations that will optimise efficiency, accelerate funding cycles and intensify scalability while maintaining governance and compliance.

"We’re excited to work with new partners like SY Holdings that can move quickly together with us, as we expand into even more markets and explore new propositions like Brand New cars," says Carro co-founder and CEO Aaron Tan.

“This strategic partnership will give us access to bespoke, AI driven financing solutions that will not only help align disbursements across our ecosystem in multiple markets, but also optimise the financing supply chain process.”

SY Holdings will tap into Carro’s deep experience and expertise with new energy vehicles (NEV) across Asia Pacific.

“Carro’s commitment in AI and NEV, coupled with its recent launch of its Zeekr dealership, resonates strongly with us ,” says SY Holdings head of international partnerships Kenny Ng.

“This partnership will see us working closely to integrate systems that will handle dealership, procurement and settlement cases within the NEV space, as well as explore supply chain AI capabilities that will include anomaly detections, smart pricing algorithms, real-time data synchronisation and automated reconciliation.”

Carro has a decade’s worth of experience in buying and selling used cars whilst leveraging proprietary technologies, artificial intelligence and data analytics.

The unicorn start up has grown its retail marketplace to an in-house ecosystem powerhouse encompassing Carro Care (aftersales), Genie Financing Services (financing), and Coverro (insurance).