Start-up Motorist.sg gets seed funding from JobsCentral, Zopim founders
Summary
The company already has offices in Singapore, Malaysia and Vietnam.Founded in 2015, Motorists main revenue comes from the commission that its partners pay for every car they purchase via its platform. About 350 to 400 vehicles are transacted each month.The start-up said it is profitable, and that to date, the platform has transacted more than 9,200 vehicles worth over $176 million.Chief executive Damian Sia told The Business Times: "The concept of car bidding isnt new, but there are some platforms that actually belong to used car dealers. "Motorist maintains neutrality by getting the highest price for car owners transparently, said Mr Sia. "I chose to invest in Motorist.sg because it has enormous growth potential in not only Singapore, but also the Asean region," said Zopim co-founder Mr Tay. "The company offers a unique service to car owners, disrupting the usual automotive model we have grown accustomed to."