Australian car subscription platform Carbar is merging with UAE-based Carasti in a deal that values the combined business at an estimated $74M before the new funding round.
The merged company is seeking $10M to support its international expansion. It will offer flexible monthly car subscriptions, positioning the service as an alternative to traditional long-term leasing and financing.
The transaction is expected to more than double Carbar’s fleet, from 1,500 vehicles to over 3,000. Carbar shareholders will hold 55% of the new entity, while Carasti shareholders will own 45%.
Australian firm Alpine Capital is managing the investor offering, which includes 7.04 million new shares priced at $1.42 each. The combined company will operate under a new parent legally based in Singapore.
Management plans to explore an initial public offering or trade sale within two to three years after the merger closes. The business is forecasting up to $62M in revenue for fiscal 2028, 56% higher than the companies’ projected combined revenue for 2026.
Source: LinkedIn
