Motorist fuels up in Series A funding valued at $60M

Motorist, an automotive tech company based in Singapore, has effectively secured an investment from Tokyo Century Leasing (Singapore), a subsidiary of the Japanese auto finance group. Although the specific amount raised remains undisclosed, the startup's valuation has skyrocketed to US$60M as a result of this round.

• About the Founders: Damien Sia, a self-confessed car enthusiast, and his wife, Angeline, a businesswoman, established Motorist in 2015. Their combined passion for cars and business skills laid the foundation for the firm's success.

• Motorist's Innovative Solutions: Motorist simplifies vehicle-related transactions for users, providing services such as car valuations, listings for second-hand cars, and applications for loans and insurance. In 2019, they launched an intuitive application to make these services even more accessible.

• Future Plans: With the bolstered investment, Motorist aims to refine its services to be even more "accessible and efficient" for consumers. The company's focus is shifting from vehicle transactions to a broader spectrum of driver needs. They are also actively seeking additional investors for their ongoing Series A round.

Beyond Singapore, Motorist has expanded its revolutionary services to Malaysia, Thailand, and Vietnam, with the most recent launch in Vietnam last year. This international footprint further solidifies their position as a leader in the automotive tech industry.