Summary of the business
Established in 2017, the Singapore-based company specializes in the resale of pre-owned cars. It has received prestigious accolades, including the SME500 Award and multiple Sgcarmart Premium Dealer awards, highlighting its dedication to excellence in the automotive industry.
Company’s Strengths and Uniqueness:
- Consignment-Based Sales Model – Among the first few, if not the first, to successfully make the consignment-based sales model profitable and sustainable, minimizing inventory risk while offering sellers a hassle-free way to market their vehicles and buyers a wider selection at competitive prices.
- Strong Industry Recognition – The company has received multiple awards, including Sgcarmart’s Premium Dealer recognition. As Sgcarmart’s official consignment partner, it benefits from a steady stream of new referrals and customers, further strengthening its market presence and sales potential.
- Reputation in Pre-Owned Market – The company has built a strong reputation in the pre-owned vehicle market, which is crucial for consignment-based businesses that rely on customer trust.
Financial highlights
| Gross Profit | FY2024 | FY2023 |
| GMV | 32,037 | 14,305 |
| Revenue | 1,945 | 792 |
| Profit before tax | 1,049 | 70 |
| EBITA | 1,303 | 343 |
Asking Price
S$6 million to S$8 million