Carbar has bought HelloCars Subscription from Loopit, retaining the brand as its value arm while Loopit refocuses on software. The move builds on Carbar’s earlier Carly acquisition as it positions itself across tiers in the car subscription market.
Car subscription startup Carbar could be a little more public after nine years, having made a takeover bid for ASX-listed rival Carly. The non-binding agreement to merge was announced just before market close on Friday. It will see Carbar acquire all of Carly Holdings Ltd (ASX: CL8) for $160,000 in cash and around $3.64 million worth… Read more »
Carbar has partnered with fintech CarClarity so users can convert their subscription vehicle into a loan to purchase the car they’ve been using as a subscriber. The deal will see CarClarity compare options from more than 30 lenders to offer a loan tailored to the driver’s subscription. Carbar CEO Des Hang said they were launching… Read more »
Carbar has raised $28.9 million in a funding round led by IAG and Seven West Media. IAG, Australia’s biggest insurer, already has a majority stake in digital car subscription and trading startup Carbar following a $16.8 million raise in 2019. Founded in Melbourne in 2016 as a virtual car dealership, Carbar now has 80 employees… Read more »
Carbar CEO Des Hang (right) with his co-founders Davie Saw, Kenneth Teh and Richard Chen. Source: supplied Carbar, the vehicle subscription service backed by insurance giant IAG, has moved into fleet purchase, buying the cars of Sydney property tech startup Propper. Propper is continuing to use the cars via subscription, with founder and CEO Ash… Read more »
Carbar CEO Des Hang (right) with his co-founders Davie Saw, Kenneth Teh and Richard Chen. Source: supplied The Melbourne startup has introduced monthly subscription car hire to Australia It’s just launched in Sydney and will use the cash injection to roll out nationally in 2020 IAG is hoping to gain a better understanding of consumer… Read more »
, Melbourne startup Carbar was originally launched in late 2016 as a ‘virtual’ car dealership, allowing customers to buy and sell used cars online.
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