Carma

What Carma does

Carma is a digitally-native used car retailer headquartered in Sydney, Australia, founded in 2021 by co-founders Lachlan MacGregor (CEO) and Yosuke Hall (CCO) and listed on the ASX under ticker CMA since November 5, 2025. The company operates a vertically integrated platform that enables individual consumers to browse, reserve, and purchase quality-checked pre-owned vehicles online at fixed prices, with home delivery across Greater Sydney and a 7-day return guarantee. It runs a complementary Sell-to-Carma channel that purchases vehicles directly from consumers using a live-market data valuation, plus a dealer-only Carma Wholesale auction platform supplying automotive dealers with inspected inventory refreshed weekly. The company serves Australian individual consumers primarily, with automotive dealers as a secondary B2B segment.

The platform's technical foundation includes an AI-powered pricing engine that analyses thousands of Australian used car market data points to deliver transparent, real-time valuations, alongside a proprietary 90-minute multi-point inspection process conducted by teams of 10+ specialists covering mechanical, safety, cosmetic, and technology conditions. The NRMA independently verifies Carma's reconditioning processes, anchoring the brand as the exclusive preferred used car dealership of the National Roads and Motorists' Association. Supporting products include CarMatch (a vehicle recommendation tool), multi-lender used car financing through Automotive Finance, Plenti, Wisr and Volkswagen Financial Services, and Extended Coverage mechanical protection plans priced from AU$1,190 (1-year) to AU$2,390 (5-year). All operations consolidate at a 35,000 square metre reconditioning facility in Sydney.

Carma generates revenue primarily through margin on owned retail inventory, finance intermediation fees paid by partner lenders, extended coverage plan sales, and wholesale auction transaction fees. For Q3 FY2026 (three months ending January 2026), the company reported AU$22 million in revenue on 746 retail units delivered, a 37% year-on-year increase, with subsequent disclosures pointing to a 55% year-on-year increase in retail unit deliveries by March 2026. The company has raised approximately AU$200 million cumulatively across a seed round led by Tiger Global, a Series A led by General Catalyst, a convertible note led by Regal Partners, and the November 2025 ASX IPO. As of June 2026, Carma was operating from Sydney with stated ambition to scale nationally beyond New South Wales.

Name

Carma

Legal name

Carma Limited

Website

https://carma.com.au

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

Carma is an ASX-listed, digital-first used car retailer and wholesaler in Australia operating a vertically integrated platform for buying, selling, reconditioning, and auctioning pre-owned vehicles, generating revenue from retail margins, finance intermediation, extended warranty sales, and dealer auction fees.

Ownership category

akta.pro rank

Product category

Used Car Retail / Online Automotive Marketplace

NAICS

Used Car Dealers (44112), Automobile Dealers (4411)

SIC

Retail-Auto Dealers & Gasoline Stations (5500)

akta.pro primary industry

Auto & Vehicle Loan Brokerage (FSAEAEAK)

akta.pro secondary industry

Automotive Vehicles & Parts C2C (CRAFAKAE)

Keywords

• Online used car sales
• Used vehicle marketplace
• Pre-owned car dealership
• Digital automotive retail
• Used car financing

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Technology or R&D

Revenue model

1. Vehicle Sales: Margin on sale of owned inventory. Carma purchases vehicles from individuals and auctions, reconditions them, and resells to consumers at fixed prices. Revenue generated from the spread between acquisition cost and retail selling price.
2. Finance Intermediation: Carma arranges financing through partner lenders (Automotive Finance, Plenti, Wisr, Volkswagen Financial Services). Introducer fees are charged to Carma from finance partners for arranged loans.
3. Extended Coverage Plans: One-time payment mechanical protection plans offered at point of sale: 1-year ($1,190), 3-year ($1,790), 5-year ($2,390). Covers electrical and mechanical parts with roadside assistance.
4. Wholesale Auctions: Dealer-only auction platform providing access to privately sourced, inspected vehicles for automotive dealers. Revenue from transaction fees on auction sales.
5. Trade-in/Sell-to Carma: Acquisition channel where Carma purchases vehicles directly from consumers. These vehicles are then reconditioned and sold through retail or wholesale channels.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Carma is a fully digital used car dealership that sells quality pre-owned vehicles at fixed, market-data-driven prices directly to Australian consumers via its online marketplace. The company sources vehicles from private sellers, reconditions them through a 90-minute multi-point inspection process at its Sydney facility, and delivers them to buyers' homes with a 7-day return guarantee. It also operates a dealer-only wholesale auction platform and offers multi-lender financing and Extended Coverage mechanical protection plans.

Product overview

Carma operates a vertically integrated digital platform for buying and selling pre-owned vehicles in Australia. The core offering consists of the Carma Marketplace for consumer vehicle retail, the Sell-to-Carma channel for direct vehicle purchases, and Carma Wholesale for dealer-only auctions. Supporting modules include used car financing through multiple lender partners (Automotive Finance, Plenti, Wisr, VWFS), Extended Coverage mechanical protection plans, and the CarMatch recommendation tool. The platform is verified by the NRMA and offers nationwide delivery with a 7-day return guarantee.

Differentiator

Problem solved

Functional benefit

Brands

• Carma Wholesale: A dealer-first vehicle sourcing platform giving automotive dealers access to fresh, privately sourced supply of inspected vehicles every week.
• Carma Auto Pty Ltd

Products and services

• Carma Marketplace Online retail platform enabling consumers to browse, reserve, purchase, finance, and have delivered quality pre-owned vehicles at fixed prices. Includes a 3-month warranty, 7-day return guarantee, and NRMA-verified inspection.
• Sell-to-Carma Direct vehicle purchase channel enabling Australian consumers to sell their used car to Carma at a transparent live-market-data-derived price, with instant payment after in-person verification at a Sell To Carma Centre in Greater Sydney.
• Carma Wholesale Auctions Dealer-only auction platform enabling automotive dealers to source privately originated, NRMA-inspected vehicles through a digital bidding app with weekly supply of 60-100 vehicles.
• Carma Used Car Finance In-platform car finance offering connecting buyers with multiple lender partners (Automotive Finance, Plenti, Wisr, VWFS) for personalised loan quotes with same-day settlement and no ongoing fees.
• Carma Extended Coverage Mechanical protection plan covering electrical and mechanical components up to $5,000 per claim after manufacturer warranty expires, with terms of 1, 3, or 5 years and bundled 24/7 nationwide roadside assistance via NRA.
• CarMatch Interactive recommendation tool that matches consumers with suitable pre-owned vehicles from Carma's inventory based on their stated preferences in about three minutes.

Quantifiable outcome

• 55% year-on-year increase in retail unit deliveries
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core, support and minor.

• NRMA (National Roads and Motorists' Association)coreStrategic or Co-development Partner · 1 May 2025Carma is the exclusive preferred used car dealership of the NRMA. Every car undergoes thorough inspection, reconditioning, and quality assurance process verified by the NRMA. Provides extra peace of mind for customers plus exclusive benefits for My NRMA Rewards members.
• National Roadside Assist (NRA)coreTechnology or IntegrationProvides 24/7 roadside assistance for Carma Extended Coverage customers. Offers over 1,700 service providers across Australia including jump starts, flat tyre assistance, lockouts, fuel delivery, and towing.
• HarriersupportTechnology or IntegrationAdministrator of Carma's mechanical protection plan for handling repair claims.
• Glass'ssupportTechnology or IntegrationVehicle valuation data partner providing market intelligence for pricing decisions.
• Compare the MarketminorGTM or Marketing PartnerComparison marketplace partner featured in Carma's trusted partners section.
• Sydney FCminorGTM or Marketing PartnerSports sponsorship partnership with Sydney FC football club, including competitions like 'Win a training session with Sydney FC'. Extended partnership in October 2024.
• BornsupportGTM or Marketing PartnerIndependent creative agency appointed in 2026 to partner with Carma across brand and creative duties to evolve the brand platform 'It's all good' and support next phase of growth. Selected following competitive pitch facilitated by Hustle.
• Fourteen10supportGTM or Marketing PartnerMedia agency appointed to lead Carma's media strategy following competitive pitch process in September 2025.
• HustlesupportGTM or Marketing PartnerAgency matchmaker that facilitated the competitive pitch process resulting in Born's appointment as Carma's creative agency.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Kavak: Emerging-market (LatAm, MENA) digital used car platform with vertical integration in reconditioning and financing — comparable emerging-market analog to Carma's growth-stage playbook.

Broad incumbents

• Auto Trader UK: UK's dominant automotive marketplace, comparable to Carsales in Australia. Different business model (classifieds vs. dealer) but competes for the same Australian-relevant auto audience attention.
• Cars24: Global online used car marketplace with C2B acquisition and B2C retail. Highly comparable C2C-style sourcing model to Carma's sell-to platform, operating across multiple geographies.
• CarMax: Largest US used vehicle retailer with an omnichannel model (physical stores + online). Comparable to Carma on retail used car focus but at vastly greater scale and with a hybrid store-based model.

Direct peers

• Clutch: Canadian online used car retailer offering fully digital purchase, financing, and home delivery — closely mirrors Carma's vertically integrated consumer proposition in a smaller geographic market.
• Carvana: US-based, digital-first used car dealer offering online browsing, financing, home delivery, and a return window — the closest international model analog to Carma's vertically integrated platform.
• Vroom: US online used car retailer with e-commerce vehicle purchase and home delivery — directly comparable digital-first model to Carma, though at greater scale and with more recent operational turbulence.
• Carsales.com: Australia's dominant online automotive marketplace, serving the same consumer and dealer base as Carma, with a deeper listing model versus Carma's dealer model.
• Drive.com.au: News Corp-owned Australian auto platform combining listings, reviews, and editorial. Comparable audience and dealer supply overlap with Carma's marketplace.
• Carsguide: Australian automotive marketplace and content platform competing with Carsales for consumer attention and dealer listings in the same Australian used car market Carma addresses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@carma_au
• Facebookfacebook.com/carma.com.au
• LinkedInlinkedin.com/company/carma-au
• Instagraminstagram.com/carma_au
• TikToktiktok.com/@carma_au
• Xx.com/Carma_au

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds3 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carma