This first investment from Vynn Capital’s new mobility and supply chain fund is backed by Malaysian pension fund KWAP, Sime Darby Bhd, MAVCAP, AEI Capital, and other regional limited partners.
Led by Vynn Capital, the partnership also welcomes new investors including Vincent Lee, an early investor into Malaysia’s first unicorn Carsome, as well as other regional investors such as Oak Drive Ventures, and existing shareholders including Philippines-based Kaya Founders.
WYZauto is a Thailand-headquartered tyre marketplace connecting two-wheeler or four-wheeler vehicle maintenance businesses with a vast selection of top tyre brands. The platform offers car maintenance businesses access to the country’s largest tyre stock and will soon include other vehicle parts, aiming to streamline the entire vehicle maintenance supply chain.
The company works with numerous wholesalers and brands, helping to increase their e-commerce presence and reach new customers through the platform.
WYZauto expanded its operations to Malaysia last year. By extending its strategic support, Vynn Capital will facilitate mutually beneficial partnerships that will accelerate WYZauto’s growth within the Malaysian market by leveraging its existing connections, particularly in the mobility and supply chain sector.
“We are very pleased to have Vynn Capital onboard. I realised in our early discussions that they were able to connect us with potential strategic players.
“Since the start, it is more than just funding. Their mobility synergy approach is very relevant for us who aim to optimise the automotive maintenance industry,” said WYZauto founder Louis Giraud.
Victor Chua, founding and managing partner of Vynn Capital, said the vehicle maintenance sector in Southeast Asia has room for “significant growth”.
“WYZauto is positioned exactly where the market needs it: their streamlining of the tyre supply chain creates a win-win situation for repair shops, maintenance networks, wholesalers as well as brand manufacturers, driving efficiency and cost savings.
“We have an optimistic outlook for the company’s growth trajectory and look forward to supporting WYZauto’s continued expansion across countries like Malaysia, the Philippines, Indonesia and Thailand,” he added.
In addition to supporting the platform’s growth, Vynn Capital actively seeks lucrative opportunities in key markets such as Singapore, Thailand, and Indonesia, believing in the long-term potential of Southeast Asia’s mobility market. The region’s automotive products market alone is expected to reach US$79 billion (RM375 billion) in 2028, significantly exceeding 2023’s US$61 billion (RM290 billion).
Vynn Capital is an industry focussed early-stage venture capital firm aiming to bridge the gap between traditional industries and the new economies through the development of technology. It also assists its investors or limited partners in understanding new industries and markets with its localised team and network across major Southeast Asian cities. For more information visit http://www.vynncapital.com.
WYZauto was launched in Thailand in April 2021 and May 2023 in Malaysia. Nearly 3,000 vehicle service centres have downloaded the platform, generating more than US$1.6 million (RM7.6 million) of gross merchandise value a month. For more information, visit https://wyzauto.com/