Singapore's leading AutoConcierge platform Motorist.sg has announced that it has successfully secured an undisclosed sum in seed funding from JobsCentral's co-founders Der Shing Lim and Shao-Ning Huang, as well as Zopim's co-founder Royston Tay.
Motorist.sg's chief executive officer, Damian Sia, stated, "I am pleased to welcome Der Shing, Shao-
Ning, and Royston to the company. We are very fortunate to have them on board as they are all successful entrepreneurs from unique start-up backgrounds. I'm certain they will bring diverse expertise and experience to the company."
Motorist.sg was founded by Sia in 2015 and now it is one of the fastest growing automotive startups in Singapore. The company has been profitable since the first day of its operation. To date, the company has transacted more than 9,200 vehicles worth over $176 million.
According to industry sources, Motorist.sg's transaction volume is at three to five times of their nearest competitors.
"I chose to invest in Motorist.sg because it has enormous growth potential in not only Singapore but also the ASEAN region," said Tay and added that "The company offers a unique service to car owners, disrupting the usual automotive model we have grown accustomed to."
After focusing on vehicle transactions during the first three years of operation, the company is now looking at the car management aspect of vehicle ownership. Poised for growth in the next six months, Motorist.sg has plans to open its fourth office in Thailand this year. It currently has offices in Singapore, Malaysia and Vietnam.
Sia said, "The next six months will be very exciting for the Motorist team. We will focus primarily on
marketing and supercharging our products and services to show future investors the scalability of our business model. We intend to have another round of fund-raising in mid-2019. We will also be pushing out a nationwide campaign in February to promote the official launch of our new app."
Car owners who wish to be early adopters of the Motorist App can download it via the App Store and Google Play.
If anyone seeks more information about Motorist.sg, they can visit https://www.motorist.sg/.