Carro, the Singapore-based online used car platform, has signed a Memorandum of Understanding with fintech platform SY Holdings, entering a strategic partnership that will support Carro’s expansion plans through tech-enabled financing solutions.

Carro said in a statement on Thursday that SY Holdings is a Hong Kong-listed digital intelligence technology company with a focus on artificial intelligence (AI) and industry supply chains.

This strategic partnership will leverage artificial intelligence, predictive analytics and API-based integrations that will optimize 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,

“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 optimize the financing supply chain process,” said Aaron Tan, Co-founder and Chief Executive Officer of Carro.

At the same time, SY Holdings will be able to 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,

“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 synchronization and automated reconciliation,” said Kenny Ng, Head of International Partnerships at SY Holdings.

Carro is Asia Pacific’s largest online automotive marketplace for buying and selling used cars while leveraging proprietary technologies, AI 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), building a hub of excellence and quality for all aspects of car ownership.


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