Following the funding round, Motorist plans to open a new office in Thailand
Singapore-based auto-concierge platform Motorist today announced that it has raised an undisclosed seed funding round from JobsCentral co-founders Der Shing Lim and Shao-Ning Huang as well as Zopim co-founder Royston Tay.
The company plans to launch a new office in Thailand, complementing its existing offices in Singapore, Malaysia, and Vietnam.
“The next six months will be very exciting for the Motorist team,” Motorist Founder Damian Sia said in a press statement.
“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 also added that the company plans to have another round of fundraising in 2019.
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It will also launch a nation-wide campaign in February to promote the launch of its new app.
Founded in 2015 by Sia, Motorist started off as a vehicle transaction platform. The company is now looking at the “car management aspect of vehicle ownership.”
Having been bootstrapped since its launch, Motorist claimed to have been profitable since the beginning.
The company said it has transacted more than 9,200 vehicles worth over S$176 million (US$129 million).
“I chose to invest in Motorist.sg because it has enormous growth potential in not only Singapore, but also
the ASEAN region,” said investor Royston Tay.
“The company offers a unique service to car owners, disrupting the usual automotive model we have grown accustomed to,” he added.
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Source: E27