Carro lands strategic backing from Japan's Orico to expand auto financing
What's the deal? Carro, a Singapore-based online car marketplace, has secured a strategic investment from Orient CorporationDealroom has a profile for this one. Try Dealroom → ("Orico"), a major Japanese consumer credit and financial services company. Orico becomes a strategic partner, starting with collaboration on automotive financing across Japan, Thailand, and Indonesia — markets where both operate.
What does Carro do? Founded in 2015, Carro runs an online car marketplace across the Asia Pacific, excluding China and India. It transacted over 120,000 new and used vehicles in FY2026 and is active in eight markets, spanning auto fintech, digital insurance broking, and after-sales services.
Why Orico? Founded in 1954, Orico offers consumer finance, credit cards, automotive financing, loan guarantees, and settlement services. It already runs auto loan businesses in Thailand, the Philippines, and Indonesia.
What's the endgame? The partnership pairs Carro's digital vehicle commerce with Orico's financial services. "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," said Carro co-founder and group chief executive officer Aaron Tan.
Why now? Orico chief executive officer Makoto Umemiya cited rising demand for automotive financing as the middle class expands. He pointed to Carro's AI-based credit assessment and vehicle valuation as tools that could strengthen Orico's international growth.
The backdrop: Carro is a unicorn startup that has raised over US$513.3M from SoftBank Vision Fund plus several sovereign funds and government-linked investors. It employs more than 4,500 people and operates across markets including Singapore, Malaysia, Indonesia, Thailand, Japan, Taiwan, Hong Kong, and Australia.
The signal: The deal reflects how established financial institutions are teaming up with digital platforms as vehicle sales, credit assessment, and appraisal shift online. For Carro, an incumbent lender adds financing depth; for Orico, a digital player extends its reach across Southeast Asia.
Read more: thetimes.com.au
Image credit: William Hook
