SINGAPORE - Media OutReach - 26 October 2023 - Tembusu Financial Services, a leading financial services provider in Singapore has appointed Vincent Tan, former CEO of Sgcarmart, as its new managing director.

He will also be given a board seat and his appointment is effective immediately.

In his new role, Vincent will be in charge of leading Tembusu's business loan portfolio while current managing director, Joe Chua, will continue to head up the car loan business. Both Vincent and Joe will form up the expanded management team, according to a statement by Tembusu. This strategic move comes as part of Tembusu Financial Services' commitment to driving growth and innovation in the financial industry.

"My focus now will be to expand our product offerings for corporate loans with priority on property backed working capital loans. Automation and online marketing will be key drivers of the business that I will focus on," said Vincent.

Vincent brings with him a wealth of experience and industry expertise, having previously held the position of CEO at Sgcarmart, a leading online marketplace in Singapore. Under his leadership, Sgcarmart grew from a start up to become an award-winning company that was eventually snapped up by Toyota for $150M. He exited the company in 2022 after an 18-year tenure.

"With a track record of successful leadership and a deep understanding of the local market, his appointment is expected to further strengthen Tembusu Financial Services' position as a leader in the financial services sector. As the company aims to grow its portfolio and product offerings, the expertise and strategic vision that Vincent brings to the table will be instrumental in driving the growth of the organization," said Tembusu.

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About Tembusu Financial Services

Tembusu Financial Services is a trusted financial service provider specialising in two core product categories. We offer automotive loans tailored for consumers and car dealers, as well as term loans designed for businesses and accredited investors.

Through our use of proprietary capital and flexible underwriting processes, we are able to expedite loan application decisions and provide financing solutions to clients who face challenges securing loans from traditional banks due to factors such as credit history, cash flow, and the Total Debt Servicing Ratio (TDSR).

The award-winning Tembusu team brings together 50+ years of industry experience and has successfully funded over 2,000 deals totalling more than $1 billion.

Read more: Former Sgcarmart CEO joins Tembusu Financial Services as Managing Director