Thai car listing platform SiamCarDeal raises US$300K led by 500 TukTuks
SiamCarDeal, an online car listing platform in Thailand, has received US$300,000 in seed funding led by 500 TukTuks, with participation from unnamed angel investors.
SiamCarDeal works with official dealers in the country, who have cars available for sale and willing to give a discount to customers. Once booked, the user can go to the show room with SiamCarDeal’s offer to get the discounts.
The service is free to use for consumers.
“We currently partner with over 100 car dealers across the country and provide more than 1,500 offers for consumers. When a potential buyer shows interest in the deal on our website, we will qualify the inquiry and send it in real-time to the showroom with our in-house developed software called LMS (Lead Management System). With this system, our partner showrooms can conveniently manage their database of prospects, and their salespeople can follow up more efficiently, resulting in an increased sales closing ratio. Now our LMS system is extensively used by our customers in Thailand and across CLMV,” said Damien Kerneis, Co-founder of SiamCarDeal.
In 2018, SiamCarDeal supported its nationwide partners to sell over 3,000 cars, it said in a press release.
“When launching siamcardeal.com in 2016, we aimed to be a platform for those who wanted to buy a new car and search for the best deals. We received a lot of positive feedback from both consumers and dealers: consumers got their new car at a great price while dealers increased their sales with this new channel. As we went along, we saw opportunities to go deeper in the value chain and developed more products and services to support car dealers.”
Krating Poonpol, Venture Partner (Thailand) of 500 TukTuks said: “We believe that SiamCarDeal’s LMS software offers a forward-looking perspective for the industry since it can be used by all automotive businesses. With this end-to-end solution SiamCarDeal has developed, we see big market opportunities for them domestically and abroad where SiamcarDeal can further expand to the regional level.”
“In 2019, SiamcarDeal will embark on the journey of digital transformation for automotive businesses by expanding more services which will help the showrooms to improve their overall efficiency and increase their sales volume. In addition, we also have plans to bring technology to help support the used car market,” added Kerneis.