Carbar and Carasti merge into A$74M global car subscription platform
What's the deal? Australian car subscription company Carbar has merged with UAE-based rival CarastiDealroom has a profile for this one. Try Dealroom → to form a combined entity valued at A$74 million. Carbar shareholders will hold 55% of the new company; Carasti shareholders will own the remaining 45%. A new parent company will be created with headquarters in Singapore.
What's the endgame? The two companies offer a monthly car subscription model — dubbed a "Netflix for cars" approach — pitched as an alternative to buying or long-term leasing. The merger doubles the combined fleet from 1,500 to over 3,000 vehicles.
Where's it expanding? The deal unites Carbar's Australian business with Carasti's operations across the UAE, Saudi Arabia, Thailand, and Singapore. The combined footprint gives the company a base to push into new markets, with the Singapore headquarters set to oversee global operations.
Why now? Alongside the merger, the company is raising A$10 million to fund integration and expansion. The raise, managed by Australia's Alpine CapitalDealroom has a profile for this one. Try Dealroom →, consists of 7.04 million new shares priced at A$1.42 each.
What's next? Leadership plans to explore an initial public offering or a trade sale within two to three years. The company projects revenues of up to A$62 million by fiscal 2028, a 56% increase over combined 2026 forecasts.
The signal: The tie-up reflects consolidation in the mobility-as-a-service market, as regional subscription players combine to reach the scale needed to compete globally and court public-market investors.
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Image credit: yonkershonda
