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Carro secures $75m multi-currency loan from HSBC

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pstrongThe loan will boost the company’s liquidity./strong/p pa href="https://sbr.com.sg/videos/fast-lane-how-carro-stands-out-other-second-hand-car-platforms" target="_blank" rel="noreferrer noopener nofollow"Carro /ahas signed a loan agreement with HSBC, which is part of the bank’s $1.35b (US$1b) ASEAN Growth Fund.

The company secured a $75m multi-currency loan through the deal.“Our fintech business, leveraging proprietary data-driven lending, has been growing prudently with a loan book exceeding $500m and NPL below 0.5%,” Carro CEO and co-founder Aaron Tan said.

Carro CFO Ernest Chew said the loan strengthens the company’s balance sheet and diversifies its funding channel in Malaysia, allowing it to further grow its business.

 

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