<article>Singapore-based car-sharing player Smove has voluntarily entered liquidation, according to a regulatory filing by the company.</article>

Singapore-based car-sharing player Smove has voluntarily entered liquidation, according to a regulatory filing by the company.
The development was first reported by the Straits Times. A filing with Singapore&#8217;s Accounting and Corporate Regulatory Authority (ACRA) confirmed the move.
A call to Smove’s customer service line went unanswered and the company didn’t immediately respond to DealStreetAsia’s emailed request for comment. A LinkedIn message to Smove co-founder Tom Lokenvitz had not elicited a response at the time of publishing.
Smove had raised S$5.1 million from investors including Wavemaker Partners and Rebright Partners, according to Crunchbase data.
&#8220;We&#8217;re undergoing a process of finding the best solution for our customers and stakeholders. Due to the sensitivity of the issue, we have no further comment at this point,&#8221; Wavemaker said in a comment emailed to DealStreetAsia.
Acres Advisory, which Straits Times said had been appointed the liquidator for Smove, said the Singapore business was placed under provisional liquidation on May 21 but declined to comment further.
In its most recent Facebook post in late April, Smove had said that the Singapore government didn’t consider the company an essential service during the country’s “circuit-breaker” lockdown to prevent the spread of the COVID-19 virus.
The hourly car-rental company had 450 cars available for sharing at 90 pickup locations, with around 60,000 signed-up customers as of December 2017, according to the most recent media kit posted on the Smove’s website.
That compares with all-electric-car rival BlueSG, which said it had 660 cars and 1,207 charging points at the end of 2019 and expects to have 1,000 vehicles in its fleet, with 2,000 charging points by this year.

Acres Advisory, which has been appointed the liquidator, said Smove Singapore was placed under provisional liquidation on May 21.

Singapore car-sharing player Smove files for liquidation

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Singapore car-sharing player Smove files for liquidation

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