Orient Corporation has invested in Singapore-based CARRO. The companies will pursue collaboration centered on auto loans, primarily in Japan, Thailand and Indonesia, to strengthen their automotive-related businesses across the Asia-Pacific region.
Orient Corporation has invested in Singapore-based CARRO and announced a partnership under which it will serve as a strategic partner. The company plans to initially pursue collaboration centered on auto loans in Japan, Thailand and Indonesia.
CARRO operates online marketplaces for vehicle sales and purchases, maintenance, financing and insurance across the Asia-Pacific region. Through the investment, the two companies are expected to strengthen their business cooperation and expand financial solutions in local markets.
Across the Asia-Pacific region, demand for auto loans for new and used vehicles is expected to grow as the middle class expands. Sales channels are also rapidly becoming more digital, while AI is driving advances in vehicle valuation and credit assessment.
Under its role as CARRO's strategic partner, Orient Corporation is expected to initially pursue collaboration centered on auto loans in Japan, Thailand and Indonesia.