Singapore’s Motorist raises seed funding

Singapore-based auto-concierge platform Motorist in the present day introduced that it has raised an undisclosed seed funding spherical from JobsCentral co-founders Der Shing Lim and Shao-Ning Huang in addition to Zopim co-founder Royston Tay.

The firm plans to launch a brand new workplace in Thailand, complementing its present places of work in Singapore, Malaysia, and Vietnam.

“The next six months will be very exciting for the Motorist team,” Motorist Founder Damian Sia stated in a press assertion.

“We will focus primarily on marketing and supercharging our products and services to show future investors the scalability of our business model,” he continued.

Sia additionally added that the corporate plans to have one other spherical of fundraising in 2019.

Also Read: How a lot can expertise truly assist Singaporeans save on automobile insurance coverage?

It may even launch a nation-wide marketing campaign in February to advertise the launch of its new app.

Founded in 2015 by Sia, Motorist began off as a automobile transaction platform. The firm is now trying on the “car management aspect of vehicle ownership.”

Having been bootstrapped since its launch, Motorist claimed to have been worthwhile for the reason that starting.

The firm stated it has transacted greater than 9,200 autos price over S$176 million (US$129 million).

“I selected to put money into Motorist.sg as a result of it has huge development potential in not solely Singapore, but in addition
the ASEAN area,” stated investor Royston Tay.

“The company offers a unique service to car owners, disrupting the usual automotive model we have grown accustomed to,” he added.