- Singapore automotive startup Motorist raised an undisclosed strategic investment from Tokyo Century Leasing.
- Motorist runs an online platform facilitating vehicle transactions, loans, and insurance.
- The funding will expand Motorist’s solutions beyond transactions.
The new investment
Singapore automotive tech startup Motorist has secured a strategic series A investment from Tokyo Century Leasing (Singapore), a subsidiary of Japanese auto financing group Tokyo Century. The funding amount was undisclosed but values Motorist at $60 million.
Founded in 2015, Motorist operates an online platform and app to facilitate vehicle transactions like pricing, buying, selling, loans, and insurance.
The investment aims to make these solutions more efficient and accessible to consumers in Singapore and beyond.
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Expanding Solutions and Reach
Since its inception, Motorist has claimed over $1 billion in completed vehicle sales transactions – hitting this milestone in 2023 just 5 years after crossing $100 million.
Its app is now used by 15% of car owners in Singapore. The company also recently expanded to Malaysia and Thailand and launched in Vietnam last year.
As part of its post-funding strategy, Motorist will look to enhance offerings beyond just vehicle transactions to serve wider driver needs. The startup is seeking additional investors to close out the round. This latest backing from Tokyo Century’s Singapore arm validates Motorist’s solutions in automotive fintech.
