Carro has established an approximately $352 million warehouse facility backed by Singapore auto-loan receivables, giving its lending arm a way to turn loans into funding from banks or bond investors. The figure is the facility ceiling; Carro did not disclose how much has been drawn.
A bankruptcy-remote special-purpose vehicle will purchase and securitize vehicle-secured hire-purchase receivables originated by Genie Financial Services, Carro’s wholly owned lender. Participants can provide direct bank loans or buy notes on equal footing. Mizuho arranged the structure, while Mizuho, HSBC and JPMorgan provided loans and subscribed to bonds.
That lending arm sits inside a broader car marketplace. In Singapore, customers can buy or sell new and used vehicles and arrange financing, insurance, leasing and workshop services. The announced collateral pool is limited to Genie’s Singapore receivables.
The collateral has a feature specific to Singapore. Every registered vehicle requires a Certificate of Entitlement, which permits its use for 10 years; early deregistration may generate a rebate for the unused period. Carro says that residual entitlement value supports the vehicles securing Genie’s loans.
Carro said it transacted more than 120,000 new and used vehicles across eight Asia-Pacific markets in fiscal 2026. The warehouse is narrower than that footprint, although the company describes the Singapore structure as a template for expansion.