Motorist secures strategic lead investor Tokyo Century Leasing (Singapore) in Series A round at USD60 million valuation
(Motorist Management Team; from left: Eugene Foo, Jake Ler, Damian Sia, Angela Poh)
SINGAPORE, [22 January 2024] – Motorist, a leader in automotive technology solutions, is excited to announce Tokyo Century Leasing (Singapore) as a strategic lead investor in its Series A funding round.
This significant collaboration not only endorses Motorist's innovative approach in the automotive sector but also marks the company’s pivotal expansion in automotive financing, benefitting both dealers and consumers. Existing investors through an AngelCentral Syndicate, have also followed on in this round, reaffirming their confidence in Motorist’s growth trajectory.
With Tokyo Century Leasing (Singapore)'s expertise and support, Motorist is set to enhance its financing business to offer even more comprehensive lending solutions. This move aligns with Motorist's vision to streamline the automotive ownership and trading experience, making it more accessible and efficient for all parties involved.
In the wake of this fundraising, Motorist is actively seeking additional strategic investors for its Series A round. The company is keen to collaborate with entities that share its vision of revolutionizing the automotive industry. These partnerships are not just financial investments, but shared ambitions of co-creating value, driving innovation, and accelerating growth in new markets.
"This investment by Tokyo Century Leasing (Singapore) is a major step forward," said Damian Sia, Founder/CEO of Motorist. "It's more than just funding; it's about building a network of strategic partnerships that can bring holistic improvements to the automotive ecosystem. We're now looking for additional investors who are ready to join us in this journey and contribute to a future where automotive transactions are seamless, transparent, and user-friendly."
Motorist's current success, highlighted by its popular Motorist Super App used by 15% of vehicle owners in Singapore, is just the beginning. With plans to expand its presence to 10 countries by 2026, including upcoming operations in the Philippines, Motorist is on a rapid growth trajectory. Already operational in Singapore, Malaysia, Thailand, and Vietnam, the company is well-positioned to scale new heights in the automotive industry.
Motorist's goal is clear: to be the driving force in reshaping automotive experiences globally. With a current valuation at $60 million USD, and an eye towards boosting its financing business, Motorist is not just growing; it's evolving to meet and exceed the dynamic needs of the automotive market.
About Motorist
Motorist, founded in 2015, is at the forefront of automotive technology, dedicated to simplifying car ownership and enhancing the automotive journey for vehicle owners. Its Motorist Super App provides a comprehensive range of services, catering to all aspects of car ownership and management.
Media Contact:
Danny Ng
Marketing Communications Manager
+65 8208 9662
