Press Release: CARSOME Group and JACCS Announces Strategic Partnership in CARSOME Capital to Revolutionize Auto Financing

Petaling Jaya, 6 February 2025 – CARSOME Group Inc (CARSOME), Southeast Asia’s (SEA) largest integrated car e-commerce platform, and JACCS Co., Ltd. (Japan Consumer Credit Service, or JACCS), a global consumer finance company and a member of the Mitsubishi UFJ Financial Group, announced a strategic partnership via CARSOME Capital Sdn. Bhd., the financing arm of CARSOME.

As part of this strategic partnership, JACCS will invest into CARSOME Capital and will own a 49% stake. CARSOME Group will continue to hold a majority 51% stake. The partnership will combine JACCS' longstanding expertise and international resources with CARSOME Capital’s ecosystem and local know-how, in order to introduce tailored financing solutions in Malaysia, with an emphasis on under-served segments. The partnership will also facilitate knowledge transfer to optimize risk assessments, enhance credit governance, and implement best practices that strengthen financial sustainability and portfolio performance.

Eric Cheng, CARSOME Group’s Co-Founder and Chief Executive Officer

Eric Cheng, CARSOME Group’s Co-Founder and Chief Executive Officer, said, “CARSOME is honored to partner with JACCS, a global consumer finance company, as they mark their strategic entry into Malaysia through our partnership. By combining JACCS’s extensive expertise with CARSOME’s ecosystem, we aim to redefine the mobility financing experience, empowering communities and driving economic growth across the region.”

Ryo Murakami, President and Representative Director of JACCS

Ryo Murakami, President and Representative Director of JACCS, commented, “We have carefully evaluated the automotive and financing landscape across Southeast Asia, and are excited about the long-term growth potential in this region. We believe CARSOME is an ideal partner for us with the potential to drive growth and transformation in the region, starting with Malaysia, and then to other Southeast Asian markets. Our investment in CARSOME Capital underscores our confidence in this partnership and our commitment to creating long-term value in the automotive financing industry.”

Nicholas Wong, CARSOME Capital Malaysia’s Managing Director, added “This collaboration allows us to continue serving unserved and underserved markets here in Malaysia, a segment that has always been at the heart of what we do. We are excited to work with JACCS to introduce additional capabilities and technologies, such as AI-driven credit assessments, to expand access to financing to dealers who purchase wholesale inventory from us to sustain their business, as well as end-customers who put their trust in our vehicles.”

Founded in Hakodate, Japan, in 1954, JACCS is a trusted name in consumer finance in Japan and globally, offering solutions ranging from credit cards to auto and housing loans. A member of the Mitsubishi UFJ Financial Group (MUFG), JACCS has established a strong presence in Japan and ASEAN growth markets, including Indonesia, the Philippines, Vietnam, and Cambodia. The company also has shareholders' equity of ¥230.4 billion (around RM6.58 billion) as of March 31, 2024, and alliances with over 20 vehicle brands.

Established in 2018, CARSOME Capital provides a comprehensive range of auto financing services, including retail financing for individual buyers, floor stock financing for dealerships, and automotive insurance solutions. Supported by CARSOME’s integrated ecosystem, which spans multiple touchpoints in the car ownership journey—including buying, selling, media, refurbishment, and financing—CARSOME Capital leverages advanced data analytics and machine learning to optimize vehicle pricing, inventory management, and credit evaluations, enhancing risk assessments to assist unserved and underserved communities better. Since its inception in 2018, CARSOME Capital has disbursed more than RM1 billion of financing to support close to 45,000 transactions for CARSOME’s dealers and end-customers.

For more information, please visit CARSOME Capital’s official website.

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