6. Carma
Carma is one of the largest used-car dealers in Australia, with an inventory of hundreds of vehicles. See their Smart50 rank.
Revenue: $68.9 million
Growth: 157%
Founders: Yosuke Hall, Lachlan MacGregor
Head office: Alexandria, NSW
Year founded: 2021
Employees: 155
Industry: Automotive
Website: carma.com.au
How Carma started
Carma co-founders Yosuke Hall and Lachlan MacGregor were frustrated with the traditional experience of buying a used car, which often involved time-consuming negotiations, hidden issues with vehicles, and a general lack of transparency.
Australia’s used-car industry is estimated to be worth over $100 billion annually but it’s fragmented, with approximately 5,500 dealerships across the country. This means customers don’t have a brand offering a consistent, reliable experience. Carma aims to change that with its three pillars of transparency, quality, and convenience.
Growth
Carma is currently one of the largest used-car dealers in Australia, with an inventory of hundreds of vehicles (and that number is increasing). After raising $28 million in funding in 2021, the company is on a rapid growth trajectory; its goal is to scale operations to meet increasing demand while maintaining the high customer satisfaction that defines the brand.
Where to next
The company’s key growth strategies over the next 12 months include leveraging data and AI to optimise customer experiences, scaling technology to handle increased traffic, and refining its website to improve conversion rates. Carma is also exploring partnerships and collaborations to reach new audiences and further establish its brand in the market.
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