{"id":14679,"date":"2024-12-10T15:25:42","date_gmt":"2024-12-10T08:25:42","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=14679"},"modified":"2024-12-10T15:25:42","modified_gmt":"2024-12-10T08:25:42","slug":"carro-receives-strategic-investment-from-woori-capping-off-a-record-fy2024-with-11x-year-over-year-ebitda-growth","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=14679","title":{"rendered":"Carro receives strategic investment from Woori, capping off a record FY2024 with 11x year-over-year EBITDA growth"},"content":{"rendered":"<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2522956\/Carro_Orange.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li><i>Strategic investment marks Woori Venture Partners&#8217; first late-stage deal in <span class=\"xn-location\">Southeast Asia<\/span>, to form a closer partnership as Carro ramps up expansion plans across <span class=\"xn-location\">Southeast Asia<\/span>, including <span class=\"xn-location\">Indonesia<\/span> <\/i><\/li>\n<li><i>Best-ever EBITDA of <span class=\"xn-money\">S$43 million<\/span> (<span class=\"xn-money\">US$32 million<\/span>), the fourth year of positive EBITDA<\/i><\/li>\n<li><i>Best-ever Gross Profit of <span class=\"xn-money\">S$124 million<\/span> (<span class=\"xn-money\">US$92 million<\/span>), a 49% year-over-year growth<\/i><\/li>\n<li><i>Gross Profit Margin (GPM) improved to 12% compared to 8% in FY2023, underpinned by nearly 60% of Gross Profit from ancillaries <\/i><\/li>\n<li><i>Total assets increased by 15% year-over-year to <span class=\"xn-money\">S$1.3 billion<\/span> (<span class=\"xn-money\">US$0.9 billion<\/span>)<\/i><\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Dec. 10, 2024<\/span><\/span> \/PRNewswire\/ &#8212; Carro, <span class=\"xn-location\">Asia Pacific&#8217;s<\/span> largest and fastest-growing online used car platform, is ending the year strong, having achieved an EBITDA of <span class=\"xn-money\">S$43 million<\/span> (<span class=\"xn-money\">US$32 million<\/span>) and a 4% EBITDA margin, according to their audited FY2024 numbers.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2577245\/Aaron_Tan_Left_and_Ernest_Chew_Right.html\" target=\"_blank\" rel=\"nofollow\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2577245\/Aaron_Tan_Left_and_Ernest_Chew_Right.jpg?p=medium600\" title=\"Aaron Tan (L), Ernest Chew (R)\" alt=\"Aaron Tan (L), Ernest Chew (R)\" \/> <\/a> <br \/><span>Aaron Tan (L), Ernest Chew (R)<\/span><\/p>\n<\/div>\n<p>FY2024&#8217;s GPM expanded to 12%, shored up by a combination of strong marketplace margin expansion, ecosystem-led ancillary income growth, and productivity optimisation.<\/p>\n<p>Carro&#8217;s fintech business, Genie Financial Services, recorded prudent growth across the region and kept non-performing loans (NPL) at below 0.5%, which is much better than industry benchmarks. The overall loan book grew to <span class=\"xn-money\">S$496 million<\/span> (<span class=\"xn-money\">US$370 million<\/span>).<\/p>\n<p>In the last 12 months, Carro expanded its geographic presence to seven markets, out of <span class=\"xn-location\">Southeast Asia<\/span> to <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">Japan<\/span>.<\/p>\n<p><b><span class=\"xn-person\">Aaron Tan<\/span>, co-founder and Group CEO of Carro <\/b>says, &#8220;These numbers underscore the unique differentiated benefits of our ecosystem-led business operating model, as we focus on driving marketplace margin expansion by cross-selling ancillaries to drive recurring income streams. Even as we grow our volumes at double digit percentage to a record, we have and will continue to be laser focused on improving profitability, customer lifetime value across our ecosystem, inventory turnaround speed and productivity. This means building and leveraging more data and technology, including AI and machine learning. We are better placed than ever to scale sustainably and profitably in our core markets and are very excited to grow our newest markets: <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">Japan<\/span>. We are still small in an enormous but fragmented market, there is significant room for growth as we build our business for scalability and sustainability.&#8221;<\/p>\n<p><b><span class=\"xn-person\">Ernest Chew<\/span>, Chief Financial Officer of Carro <\/b>says &#8220;We are heartened and proud to have over-delivered on our initial target of a 10x EBITDA growth. Despite a challenging macro-environment, we achieved significantly improved margins across most profitability metrics last year. Our focus on quality of revenues and recurring earnings have resulted in a 92% reduction in reported operating loss and within a striking distance of positive operating profits. Even as our cash from operating activities swung to positive, \u00a0we continue to be extremely vigilant on liquidity and have built up a warchest of over <span class=\"xn-money\">S$400 million<\/span> in cash and undrawn lines. We have also been disciplined around managing down costs, improving efficiencies and pushing digital transformations to drive strong earnings growth.&#8221;<\/p>\n<p>In a year marked by partnerships, Carro received strategic investments from Jardines and launched &#8220;Carro Care Powered by Jardine &amp; Cycle&#8221;, Carro&#8217;s in-house refurbishment and after-sales servicing capabilities. It received a strategic investment from DRB-Hicom to support its Malaysian fintech business, which has seen solid growth. Carro also strengthened its insuretech offerings by working with ZA Tech to distribute highly personalised self-serve insurance products online, leading to an explosive Gross Written Premium growth of over 60%.<\/p>\n<p>Via its latest strategic investment from Woori Venture Partners,\u00a0 Carro aims to grow further in its Southeast Asian markets, especially in <span class=\"xn-location\">Indonesia<\/span> where Woori has a strong presence in. <span class=\"xn-location\">Indonesia<\/span> used car market size is estimated at <span class=\"xn-money\">US$56.3 billion<\/span> in 2024, and is expected to reach <span class=\"xn-money\">US$74.4 billion<\/span> by 2029, according to a study by Mordor Intelligence.\u00a0 Bolstered by a robust, growing economy, more and more Indonesians are primed to be car owners, yet a lack of affordable financing has deterred even upper class households from owning cars.\u00a0\u00a0\u00a0<\/p>\n<p><b><span class=\"xn-person\">Alan Ang<\/span>, Director of Woori Venture Partners<\/b>\u00a0says, &#8220;Carro is the clear leader in a space that is prime for disruption, with significant room for expansive growth. Their ability to grow profitably at scale is testament to their performance and commitment. Woori Venture Partners continues to be a global venture capital leader by backing outstanding founders and sustainable businesses anywhere in the world with our investment in Carro. We are very pleased to be a strategic partner of Carro and help Carro reach its next stage of growth.&#8221;<\/p>\n<p><b><span class=\"xn-person\">Ernest Chew<\/span>, Chief Financial Officer of Carro <\/b>says, &#8220;It&#8217;s always been a priority for Carro to build powerful partnerships with banks and financial institutions. Receiving a strategic investment from Woori Venture Partners, a venture capital subsidiary of Woori Financial Holdings \u2013 a storied Korean financial institution \u2013 is a ringing endorsement of our ecosystem-led and complementary fintech business model. We look forward to working with Woori to plug the gaps in the market, serve the underserved better and drive financial inclusio<span>n.&#8221;<\/span><\/p>\n<p><b><u>About Carro<br \/><\/u><\/b>Founded in 2015, Carro is <span class=\"xn-location\">Asia Pacific&#8217;s<\/span> largest online used car marketplace. By offering a trustworthy and transparent experience, Carro transforms the traditional way of buying and selling cars through proprietary pricing algorithms, AI-enabled capabilities, and innovative technological solutions.<\/p>\n<p>Headquartered in <span class=\"xn-location\">Singapore<\/span>, the unicorn startup has raised over <span class=\"xn-money\">S$700 million<\/span> from Softbank Vision Fund and several sovereign funds. It recorded its best ever full-year positive EBITDA of <span class=\"xn-money\">S$43 million<\/span> in FY2024. Together with its subsidiaries and business lines, Carro is supported by more than 5,000 employees across <span class=\"xn-location\">Asia-Pacific<\/span>:<\/p>\n<ul type=\"disc\">\n<li>Carro, <span class=\"xn-location\">Southeast Asia&#8217;s<\/span> largest online used marketplace with a strong key presence <span class=\"xn-location\">Singapore<\/span>, <span class=\"xn-location\">Malaysia<\/span>, <span class=\"xn-location\">Indonesia<\/span> and <span class=\"xn-location\">Thailand<\/span>, and a recent expansion into <span class=\"xn-location\">Japan<\/span>, <span class=\"xn-location\">Taiwan<\/span>, and <span class=\"xn-location\">Hong Kong<\/span><\/li>\n<li>Carro Care Powered by Jardine &amp; Cycle, Carro&#8217;s in-house refurbishment and after-sales servicing capabilities<\/li>\n<li>Genie Financial Services, a next-generation fintech automotive financing provider in <span class=\"xn-location\">Singapore<\/span>, <span class=\"xn-location\">Malaysia<\/span>, <span class=\"xn-location\">Indonesia<\/span> and <span class=\"xn-location\">Thailand<\/span><\/li>\n<li>MPM Rent, leading mobility solutions company in <span class=\"xn-location\">Indonesia<\/span> specialising in leasing \/ fleet financing transportation services<\/li>\n<li>Innorithm, a next-generation fleet management solutions company leveraging state-of-the art IoT and machine learning<\/li>\n<li>Kaidee, <span class=\"xn-location\">Thailand&#8217;s<\/span> largest online shopping and classifieds platform<\/li>\n<\/ul>\n<p>For more information, please visit: <u><a href=\"https:\/\/carro.co\/my\/en?utm_source=online_pr&amp;utm_medium=pr&amp;utm_campaign=Raya_Branding_2024&amp;utm_content=Digital_PR_Raya_2024_HP_EN\" target=\"_blank\" rel=\"nofollow\">www.carro.co<\/a><\/u>.<\/p>\n<p><b><u>About Woori Venture Partners<br \/><\/u><\/b>Woori Venture Partners is <span class=\"xn-location\">South Korea&#8217;s<\/span> leading venture capital firm with a distinguished track record spanning over 40 years. Established in 1981, Woori Venture Partners has expanded its global presence with investment hubs in Silicon Valley, <span class=\"xn-location\">Shanghai<\/span> and <span class=\"xn-location\">Singapore<\/span>. With investments in over 2,000 companies, over 300 of which have successfully gone public, Woori Venture Partners is dedicated to driving innovation and fostering growth opportunities worldwide.<\/p>\n<p>Woori Venture Partners officially opened its <span class=\"xn-location\">Singapore<\/span> office in 2023, and its presence in <span class=\"xn-location\">Southeast Asia<\/span> reflects the growing investment opportunities in the region. Woori Venture Partners has:<\/p>\n<ul type=\"disc\">\n<li>Cultivated a portfolio of close to 15 investments from <span class=\"xn-location\">Southeast Asia<\/span> and <span class=\"xn-location\">India<\/span> across diverse sectors including consumer, B2B, deep-tech and Web3<\/li>\n<li>Partnered Arkana Ventures, an <span class=\"xn-location\">Indonesia<\/span>-based VC firm with a successful track record of investing in <span class=\"xn-location\">South East Asia<\/span>, to focus on building disruptive early-stage startups across <span class=\"xn-location\">Southeast Asia<\/span><\/li>\n<li>Collaborated with Saison Capital, the corporate venture capital arm of Credit Saison, to explore synergies on Web3 opportunities globally, with a particular focus on real-world assets and the intersection of financial services and blockchain<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2577246\/FY24_EN.html\" target=\"_blank\" rel=\"nofollow\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2577246\/FY24_EN.jpg?p=medium600\" title=\"Carro Financial Year 2024\" alt=\"Carro Financial Year 2024\" \/> <\/a> <br \/><span>Carro Financial Year 2024<\/span><\/p>\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2522956\/Carro_Orange.html\" target=\"_blank\" rel=\"nofollow\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2522956\/Carro_Orange.jpg?p=medium600\" title=\"\" alt=\"\" \/> <\/a> <br \/><span><\/span><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2522956\/Carro_Orange.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li><i>Strategic investment marks Woori Venture Partners&#8217; first late-stage deal in <span class=\"xn-location\">Southeast Asia<\/span>, to form a closer partnership as Carro ramps up expansion plans across <span class=\"xn-location\">Southeast Asia<\/span>, including <span class=\"xn-location\">Indonesia<\/span> <\/i><\/li>\n<li><i>Best-ever EBITDA of <span class=\"xn-money\">S$43 million<\/span> (<span class=\"xn-money\">US$32 million<\/span>), the fourth year of positive EBITDA<\/i><\/li>\n<li><i>Best-ever Gross Profit of <span class=\"xn-money\">S$124 million<\/span> (<span class=\"xn-money\">US$92 million<\/span>), a 49% year-over-year growth<\/i><\/li>\n<li><i>Gross Profit Margin (GPM) improved to 12% compared to 8% in FY2023, underpinned by nearly 60% of Gross Profit from ancillaries <\/i><\/li>\n<li><i>Total assets increased by 15% year-over-year to <span class=\"xn-money\">S$1.3 billion<\/span> (<span class=\"xn-money\">US$0.9 billion<\/span>)<\/i><\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Dec. 10, 2024<\/span><\/span> \/PRNewswire\/ &#8212; Carro, <span class=\"xn-location\">Asia Pacific&#8217;s<\/span> largest and fastest-growing online used car platform, is ending the year strong, having achieved an EBITDA of <span class=\"xn-money\">S$43 million<\/span> (<span class=\"xn-money\">US$32 million<\/span>) and a 4% EBITDA margin, according to their audited FY2024 numbers.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2577245\/Aaron_Tan_Left_and_Ernest_Chew_Right.html\" target=\"_blank\" rel=\"nofollow\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2577245\/Aaron_Tan_Left_and_Ernest_Chew_Right.jpg?p=medium600\" title=\"Aaron Tan (L), Ernest Chew (R)\" alt=\"Aaron Tan (L), Ernest Chew (R)\" \/> <\/a> <br \/><span>Aaron Tan (L), Ernest Chew (R)<\/span><\/p>\n<\/div>\n<p>FY2024&#8217;s GPM expanded to 12%, shored up by a combination of strong marketplace margin expansion, ecosystem-led ancillary income growth, and productivity optimisation.<\/p>\n<p>Carro&#8217;s fintech business, Genie Financial Services, recorded prudent growth across the region and kept non-performing loans (NPL) at below 0.5%, which is much better than industry benchmarks. The overall loan book grew to <span class=\"xn-money\">S$496 million<\/span> (<span class=\"xn-money\">US$370 million<\/span>).<\/p>\n<p>In the last 12 months, Carro expanded its geographic presence to seven markets, out of <span class=\"xn-location\">Southeast Asia<\/span> to <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">Japan<\/span>.<\/p>\n<p><b><span class=\"xn-person\">Aaron Tan<\/span>, co-founder and Group CEO of Carro <\/b>says, &#8220;These numbers underscore the unique differentiated benefits of our ecosystem-led business operating model, as we focus on driving marketplace margin expansion by cross-selling ancillaries to drive recurring income streams. Even as we grow our volumes at double digit percentage to a record, we have and will continue to be laser focused on improving profitability, customer lifetime value across our ecosystem, inventory turnaround speed and productivity. This means building and leveraging more data and technology, including AI and machine learning. We are better placed than ever to scale sustainably and profitably in our core markets and are very excited to grow our newest markets: <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">Japan<\/span>. We are still small in an enormous but fragmented market, there is significant room for growth as we build our business for scalability and sustainability.&#8221;<\/p>\n<p><b><span class=\"xn-person\">Ernest Chew<\/span>, Chief Financial Officer of Carro <\/b>says &#8220;We are heartened and proud to have over-delivered on our initial target of a 10x EBITDA growth. Despite a challenging macro-environment, we achieved significantly improved margins across most profitability metrics last year. Our focus on quality of revenues and recurring earnings have resulted in a 92% reduction in reported operating loss and within a striking distance of positive operating profits. Even as our cash from operating activities swung to positive, \u00a0we continue to be extremely vigilant on liquidity and have built up a warchest of over <span class=\"xn-money\">S$400 million<\/span> in cash and undrawn lines. We have also been disciplined around managing down costs, improving efficiencies and pushing digital transformations to drive strong earnings growth.&#8221;<\/p>\n<p>In a year marked by partnerships, Carro received strategic investments from Jardines and launched &#8220;Carro Care Powered by Jardine &amp; Cycle&#8221;, Carro&#8217;s in-house refurbishment and after-sales servicing capabilities. It received a strategic investment from DRB-Hicom to support its Malaysian fintech business, which has seen solid growth. Carro also strengthened its insuretech offerings by working with ZA Tech to distribute highly personalised self-serve insurance products online, leading to an explosive Gross Written Premium growth of over 60%.<\/p>\n<p>Via its latest strategic investment from Woori Venture Partners,\u00a0 Carro aims to grow further in its Southeast Asian markets, especially in <span class=\"xn-location\">Indonesia<\/span> where Woori has a strong presence in. <span class=\"xn-location\">Indonesia<\/span> used car market size is estimated at <span class=\"xn-money\">US$56.3 billion<\/span> in 2024, and is expected to reach <span class=\"xn-money\">US$74.4 billion<\/span> by 2029, according to a study by Mordor Intelligence.\u00a0 Bolstered by a robust, growing economy, more and more Indonesians are primed to be car owners, yet a lack of affordable financing has deterred even upper class households from owning cars.\u00a0\u00a0\u00a0<\/p>\n<p><b><span class=\"xn-person\">Alan Ang<\/span>, Director of Woori Venture Partners<\/b>\u00a0says, &#8220;Carro is the clear leader in a space that is prime for disruption, with significant room for expansive growth. Their ability to grow profitably at scale is testament to their performance and commitment. Woori Venture Partners continues to be a global venture capital leader by backing outstanding founders and sustainable businesses anywhere in the world with our investment in Carro. We are very pleased to be a strategic partner of Carro and help Carro reach its next stage of growth.&#8221;<\/p>\n<p><b><span class=\"xn-person\">Ernest Chew<\/span>, Chief Financial Officer of Carro <\/b>says, &#8220;It&#8217;s always been a priority for Carro to build powerful partnerships with banks and financial institutions. Receiving a strategic investment from Woori Venture Partners, a venture capital subsidiary of Woori Financial Holdings \u2013 a storied Korean financial institution \u2013 is a ringing endorsement of our ecosystem-led and complementary fintech business model. We look forward to working with Woori to plug the gaps in the market, serve the underserved better and drive financial inclusio<span>n.&#8221;<\/span><\/p>\n<p><b><u>About Carro<br \/><\/u><\/b>Founded in 2015, Carro is <span class=\"xn-location\">Asia Pacific&#8217;s<\/span> largest online used car marketplace. By offering a trustworthy and transparent experience, Carro transforms the traditional way of buying and selling cars through proprietary pricing algorithms, AI-enabled capabilities, and innovative technological solutions.<\/p>\n<p>Headquartered in <span class=\"xn-location\">Singapore<\/span>, the unicorn startup has raised over <span class=\"xn-money\">S$700 million<\/span> from Softbank Vision Fund and several sovereign funds. It recorded its best ever full-year positive EBITDA of <span class=\"xn-money\">S$43 million<\/span> in FY2024. Together with its subsidiaries and business lines, Carro is supported by more than 5,000 employees across <span class=\"xn-location\">Asia-Pacific<\/span>:<\/p>\n<ul type=\"disc\">\n<li>Carro, <span class=\"xn-location\">Southeast Asia&#8217;s<\/span> largest online used marketplace with a strong key presence <span class=\"xn-location\">Singapore<\/span>, <span class=\"xn-location\">Malaysia<\/span>, <span class=\"xn-location\">Indonesia<\/span> and <span class=\"xn-location\">Thailand<\/span>, and a recent expansion into <span class=\"xn-location\">Japan<\/span>, <span class=\"xn-location\">Taiwan<\/span>, and <span class=\"xn-location\">Hong Kong<\/span><\/li>\n<li>Carro Care Powered by Jardine &amp; Cycle, Carro&#8217;s in-house refurbishment and after-sales servicing capabilities<\/li>\n<li>Genie Financial Services, a next-generation fintech automotive financing provider in <span class=\"xn-location\">Singapore<\/span>, <span class=\"xn-location\">Malaysia<\/span>, <span class=\"xn-location\">Indonesia<\/span> and <span class=\"xn-location\">Thailand<\/span><\/li>\n<li>MPM Rent, leading mobility solutions company in <span class=\"xn-location\">Indonesia<\/span> specialising in leasing \/ fleet financing transportation services<\/li>\n<li>Innorithm, a next-generation fleet management solutions company leveraging state-of-the art IoT and machine learning<\/li>\n<li>Kaidee, <span class=\"xn-location\">Thailand&#8217;s<\/span> largest online shopping and classifieds platform<\/li>\n<\/ul>\n<p>For more information, please visit: <u><a href=\"https:\/\/carro.co\/my\/en?utm_source=online_pr&amp;utm_medium=pr&amp;utm_campaign=Raya_Branding_2024&amp;utm_content=Digital_PR_Raya_2024_HP_EN\" target=\"_blank\" rel=\"nofollow\">www.carro.co<\/a><\/u>.<\/p>\n<p><b><u>About Woori Venture Partners<br \/><\/u><\/b>Woori Venture Partners is <span class=\"xn-location\">South Korea&#8217;s<\/span> leading venture capital firm with a distinguished track record spanning over 40 years. Established in 1981, Woori Venture Partners has expanded its global presence with investment hubs in Silicon Valley, <span class=\"xn-location\">Shanghai<\/span> and <span class=\"xn-location\">Singapore<\/span>. With investments in over 2,000 companies, over 300 of which have successfully gone public, Woori Venture Partners is dedicated to driving innovation and fostering growth opportunities worldwide.<\/p>\n<p>Woori Venture Partners officially opened its <span class=\"xn-location\">Singapore<\/span> office in 2023, and its presence in <span class=\"xn-location\">Southeast Asia<\/span> reflects the growing investment opportunities in the region. Woori Venture Partners has:<\/p>\n<ul type=\"disc\">\n<li>Cultivated a portfolio of close to 15 investments from <span class=\"xn-location\">Southeast Asia<\/span> and <span class=\"xn-location\">India<\/span> across diverse sectors including consumer, B2B, deep-tech and Web3<\/li>\n<li>Partnered Arkana Ventures, an <span class=\"xn-location\">Indonesia<\/span>-based VC firm with a successful track record of investing in <span class=\"xn-location\">South East Asia<\/span>, to focus on building disruptive early-stage startups across <span class=\"xn-location\">Southeast Asia<\/span><\/li>\n<li>Collaborated with Saison Capital, the corporate venture capital arm of Credit Saison, to explore synergies on Web3 opportunities globally, with a particular focus on real-world assets and the intersection of financial services and blockchain<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2577246\/FY24_EN.html\" target=\"_blank\" rel=\"nofollow\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2577246\/FY24_EN.jpg?p=medium600\" title=\"Carro Financial Year 2024\" alt=\"Carro Financial Year 2024\" \/> <\/a> <br \/><span>Carro Financial Year 2024<\/span><\/p>\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2522956\/Carro_Orange.html\" target=\"_blank\" rel=\"nofollow\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2522956\/Carro_Orange.jpg?p=medium600\" title=\"\" alt=\"\" \/> <\/a> <br \/><span><\/span><\/p>\n<\/div>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-14679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/14679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14679"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/14679\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}