Exciting news from Karmo! We’ve just acquired Motopool, making us Australia’s largest car subscription platform, and secured a $138 million debt facility from Volkswagen and Toyota. This strategic move sets the stage for rapid growth in the car subscription market, which is projected to reach $66.7 billion globally by 2032.
What This Means for Karmo
The Motopool acquisition combines our resources, bringing our FY24 revenue to $33 million, and allows us to expand our fleet and service offerings. We will now serve thousands of customers across key Australian cities, providing a wide range of vehicles—from budget cars to high-end luxury models, and an expanding selection of hybrids and electric vehicles.
Karmo acquires Motopool – as seen in autotalk
Read the full announcement on autotalk
New Leadership for Future Growth
Karmo’s founder and CEO, Nick Boucher, will continue to lead the company, with Andrew Rickett, former Motopool CEO, stepping in as Chief Operating Officer. John Bush, Laura Harewood (Chief Revenue Officer), and Sam Zammit (Chief Product Officer) complete our leadership team, ready to drive further innovation and expansion.
Looking Ahead
With this expanded team, new funding, and a larger fleet, we’re excited to bring even more Australians flexible, hassle-free car access. Stay tuned for more updates as we continue to grow and shape the future of car subscription in Australia and beyond.
Karmo, Australia’s largest Car Subscription Provider
Karmo, Australia’s largest Car Subscription Provider. We’re dedicated to providing an exceptional car subscription experience and access to the widest range of family SUVS, trusty Utes, premium cars and EVs. Regardless of where you live and your lifestyle, we’re sure to have the perfect car to suit all your needs.
Subscribing to a car with Karmo isn’t just about getting from point A to point B—it’s about enjoying the journey with the flexibility and convenience that fits your unique lifestyle. So why wait? Embrace the future of driving with Karmo today.
Karmo offers car subscriptions in all major Australian cities. Our delivery hubs are located in Sydney Melbourne, Adelaide, Perth and Brisbane. To learn more about how to subscribe to a car, please contact us or submit an enquiry form.
