Aaron Tan, CEO & Founder of CARRO, Southeast Asia’s largest online automotive marketplace on becoming Endeavor High-Impact Entrepreneur and gaining access for various support services to help companies scale up.
Jakarta, 28 January 2021 – Endeavor announced today that Aaron Tan, CEO & Founder of CARRO, was selected as an Endeavor Entrepreneur at the 11th Virtual International Selection Panel held on January 25-27, 2021. Aaron was selected into the global Endeavor network by a panel of global business leaders including Leandro Sigman, Chairman, Grupo Chemo (Endeavor Spain Board Chairman); John McIntire, Director, Open Education Holdings; Arvind Rajan, Co-founder & Executive Chairman, Cricket Health; Alex Jaimes, Chief Scientist & SVP of AI, Dataminr; Joanna Rees, Managing Partner, West (Endeavor Global Ambassador); and Kent Thiry, Executive Chairman & Former Chief Executive Officer, DaVita (Endeavor Colorado Board Member)
At its recent 11th Virtual International Selection Panel, Endeavor selected 10 entrepreneurs leading 6 companies to join its network, which now comprises 2,131 entrepreneurs leading 1,332 companies in 37 markets around the world.
Endeavor’s International Selection Panel is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs and are committed to reinvesting their time and money in their local entrepreneurship ecosystems to help others take off.
Aaron Tan of CARRO joins Endeavor network through the regional Endeavor affiliate office based in Indonesia. As the 58th entrepreneur to be selected from Indonesia, Endeavor Indonesia now supports 58 Endeavor High-Impact Entrepreneurs leading 44 companies.
“As an avid angel investor myself, I am very passionate about helping startups across SEA expand. Being selected as an Endeavor High-Impact Entrepreneur means I can turbocharge our impact with all its support and be connected to a community of like-minded individuals within the network”, said Aaron.
“We’re proud to welcome an innovative entrepreneur to the Endeavor Indonesia network”, said Wayah Wiroto, the Managing Director of Endeavor Indonesia. “As a recognized success story, Aaron would have a large role model effect on other SEA entrepreneurs. We can also support CARRO when it is expanding to other markets in the region, such as Vietnam and the Philippines.”
All panellists at the International Selection Panel unanimously agreed to vote for Aaron Tan to become an Endeavor Entrepreneur
A programmer by training and venture capitalist by profession, Aaron epitomises the values of a High-Impact Entrepreneur. Aaron founded his first startup at the age of 13 and had already sold two companies before turning 21. He is currently the founder and CEO of CARRO, Southeast Asia’s largest online automotive marketplace. Prior to CARRO, Aaron spent close to five years with Southeast Asia’s leading venture fund, Singtel Innov8 Ventures. He subsequently relocated to the United States and started Block71 San Francisco before returning to Singapore in 2015.
CARRO is an automotive marketplace that offers a full-stack service for all aspects of car ownership. By offering a trustworthy and transparent experience, CARRO challenges the traditional way of buying and selling cars through a proprietary pricing algorithm. Besides selling second-hand cars, CARRO provides services that offer a car owner everything they need throughout their car ownership journey. In 2019, CARRO introduced the First Car Subscription Service in Singapore. The new service aims to provide Singaporeans with a commitment-free car ownership experience, unlike the traditional.
CARRO’s technology-driven services leverage innovation and technology to provide consumers with a seamless experience. These include an in-house financing solution through its sister company Genie Financial Services and a suite of after-sales services such as an in-house car care workshop and Singapore’s first on-demand roadside recovery platform.
In 2019, CARRO acquired two major auto marketplaces: Indonesia-based Jualo, gaining access to its foreign ownership license, and Malaysia-based MyTukar, in order to gain a thorough understanding of the market. Beyond its 2019 Series B funding, CARRO has recently secured $150M debt financing to help scale the business, invest in technology, and expand internationally. Having acquired a general insurance company in Thailand, the company intends to replicate its success in financial services with insurance. The company has launched Usage Based Insurance (first and exclusive provider in Singapore) with NTUC Income, the largest Singapore insurer. Over time, CARRO seeks to be like KBB or Carfax (non-existent in SEA) and wants to expand the customer lifecycle and bring data science into the industry across the value chain.
Endeavor believes Aaron Tan experiences both in professional & entrepreneurial as a High Impact Entrepreneur can bring so much to the table. As to how CARRO itself has cemented their spot as Southeast Asia’s Largest Automotive Marketplace and received a host of local and international awards that recognises the excellent work and achievements that they have accomplished in the region. These accomplishments are proof that CARRO is considered as one of SEA up-and-coming automotive startups.
Following this achievement, CARRO also brought home their first 2 marketing awards, winning a Silver PR Award for the Best Use of Technology in 2020 and a Silver Mobile Excellence Award for the Best E-commerce App in 2019, both presented by Marketing Magazine.
CARRO’s amazing relationship with investors, Insignia Ventures Partners, also earned Carro the VC Deal of the Year award given by Singapore Venture Capital and Private Equity Association (SVCA). In addition, Aaron’s entrepreneurial spirit was recognised by The Business Times and OCBC Bank as CARRO emerged as one of the finalists for the Emerging Enterprise Award.
As a testament of his entrepreneurial leadership, in Jan 2021 CARRO ranked #1 amongst 75 of Singapore’s fastest growing companies as per The Straits Times and Germany-based global research firm Statista.