Carbar – Leading car subscription service

Client Overview

  • Founded in Melbourne in 2016, Carbar was Australia’s first car subscription provider and has since maintained its leadership position
  • Car subscription services have had significant traction in international markets and provide vehicles to customers in return for an “all-in” weekly fee and flexibility to change vehicles at short notice
  • Currently operating in Victoria, New South Wales and Queensland, Carbar required a pragmatic funding partner as they scale their operations in existing markets and plan for national expansion
  • Carbar is backed by IAG, one of Australia’s largest insurers

Facility Overview

  • GCI provided Carbar with a flexible $50M facility
  • GCI’s loan is secured by highly liquid assets (vehicles and receivables)
  • The facility will support Carbar’s rapid growth and future expansion into other key markets and products


  • GCI’s Asset Backed Finance team worked to structure a facility tailored to car subscriptions which has not been financed before in Australian financial markets
  • GCI worked directly with management and shareholders to understand Carbar’s operations, valuations, growth plan and strategic objectives to design a flexible facility that met their specific requirements
  • GCI’s understanding of high growth innovative companies via our investments in Scaleup businesses (through our Leap fund) and support of a number of rapidly scaling Fintech’s allowed us to quickly understand Carbar’s needs and design a facility to fairly manage risks for all parties

Providing Value Added Credit

“GCI were selected as they have built their platform on partnering with growing issuers like Carbar, offering the flexibility to scale a new facility”.

Des Hang, Co-founder and CEO


GCI was flexible in accommodating the requirements of the Client’s business by tailoring our due diligence process, without compromising on risk management. Due to the COVID-19 lockdown, the later stages of the due diligence process were completed remotely.

GCI’s deal team was able to adapt Carbar’s existing facility documents, resulting in cost savings and assisting Carbar in meeting its timing requirements.


GCI’ extensive network and institutional experience enabled our specialist team to work collaboratively with Carbar’s major shareholder IAG and with various advisors to ensure the facility was fit for purpose and provides a pathway to future institutional funding.

We provide more than just funding, we provide
Value Added Credit

The case studies below outline how we work with our borrower clients to understand their specific requirements and provide flexible funding structures that enable them to continue to grow.