Technical Due Diligence Case Study: SGD 20M Mobility Investment [ Skip to content ](#main) Menu [About](https://a2zweb.co/en/about) [Case Studies](https://a2zweb.co/en/case-studies) [Blog](https://a2zweb.co/en/blog) [Contact us](https://a2zweb.co/en/contact)Services [AI Automation](https://a2zweb.co/en/services/ai-automation) [AI Digital Employees](https://a2zweb.co/en/services/ai-digital-employees) [Chief Technology Officer as a Service (CTOaaS)](https://a2zweb.co/en/services/chief-technology-officer-as-a-service-ctoaas) [Custom Software Development](https://a2zweb.co/en/services/custom-software-development) [Tech Auditing & Strategy Consulting](https://a2zweb.co/en/services/tech-auditing-strategy-consulting) [Tech Hiring Support](https://a2zweb.co/en/services/tech-hiring) [Vibe Code Rescue](https://a2zweb.co/en/services/vibe-code-rescue) [All Services ](https://a2zweb.co/en/services) Products [BrandGEO](https://a2zweb.co/en/products/brandgeo-ai-brand-visibility-monitoring) [SharpAPI](https://a2zweb.co/en/products/sharpapi-ai-workflow-automation-api) [CVMatchScore](https://a2zweb.co/en/products/cvmatchscore-resume-scoring-matching) [Book a call](https://calendly.com/a2zweb?utm_source=a2zweb&utm_medium=website&utm_campaign=book_call&utm_content=nav_mobile) - [ ![Treïs Group](https://a2zweb.co/logos/treis.svg) ](https://treis-group.com "Treïs Group") Treïs Group: the due diligence behind a SGD 20M investment ========================================================== Independent technical due diligence on a Singapore carsharing operator ahead of an investment round. Embedded with the target’s engineering team, delivered a gap analysis, a team assessment and a roadmap. The SGD 20M round completed. Client [Treïs Group](https://treis-group.com) Industry Investment group; target company in shared mobility Region Singapore Engagement 2022–2023 The challenge ------------- Treïs was preparing a growth investment into a Singapore carsharing and shared-mobility operator. Technology was the whole business: fleet telematics, booking, pricing, payments and the operations tooling behind them. The investment committee needed an honest read on whether that stack could carry the growth plan, and on whether the team running it could too. Neither question is answerable from a data room. What we did ----------- We embedded inside the target company’s engineering organisation rather than reviewing it from the outside. That meant reading the code and system structures directly, and interviewing product and engineering people across the organisation. The brief was to be direct about the gaps without turning the exercise into an audit the company felt done to them, because the investor still had to work with these people the day after the round closed. Outcome ------- The report set out the critical technology gaps, an assessment of the team, and a suggested roadmap for software infrastructure and talent. The target company’s management agreed with the findings and adopted the advice, which is the hardest test a diligence report can pass. The investors proceeded, and a SGD 20 million round followed, funding fleet growth and platform work. Role Technical due diligence for the investor Method Embedded review: code, systems, people Output Gap analysis, team assessment, improvement roadmap Outcome SGD 20M investment completed The client ---------- Treïs Group ([treis-group.com](https://treis-group.com)) is a family-led investment group with offices in Singapore, London, Lisbon and Milan. It runs asset management and advisory alongside direct growth investments, and holds itself to a responsible-investing mandate: capital is judged on what it does for people and the environment as well as on what it returns. The target of this engagement was a Singapore carsharing and shared-mobility operator: a fleet business where booking, pricing, payments and vehicle telematics all run on software the company builds and operates itself. Why a data room was not enough ------------------------------ In shared mobility the software decides whether a car is where the app says it is, whether the price is right, whether the payment clears, and whether the operations team can move a vehicle before it becomes a complaint. A growth round funds more vehicles, and more vehicles is the load test. Two questions mattered to the investment committee, and neither is answerable from a data room: 1. Will this architecture carry several times the current volume, or will it need replacing halfway through the plan? 2. Is the team that built it the team that scales it? What we did ----------- ### Embedded, not adjacent We worked from inside the target's engineering organisation, reading the code and system structures rather than a summary of them, and sitting with product and engineering people across the company rather than only the leads. It is slower than a questionnaire, and it shows the difference between what a system is documented to do and what it does in production. ### The team assessment People were in scope as well as systems. The assessment covered capability, coverage and single points of failure, and it was written to be useful to the company, not only to the investor. ### The roadmap The deliverable set out the critical gaps, ranked, with a suggested roadmap for software infrastructure and for talent: what to fix before scaling, what to fix while scaling, and what could wait. How it landed ------------- A diligence report can be accurate and still fail, because the target company reads it as an attack and digs in. Then the investor closes the round and inherits a management team that disagrees with the plan. Here the company's management agreed with the findings and valued the advice, so the roadmap became their roadmap rather than a condition imposed on them. Outcome ------- The investors proceeded with confidence. The target went on to announce a SGD 20 million raise to grow its fleet and its technology. > Dawid helped us evaluate the state of the tech in a potential investment. He directly embedded himself within the company’s tech team, reviewed the company’s code and system structures, and spoke with a variety of product and tech team members. He provided a very clear view on the critical tech gaps, as well as an assessment of the team members, along with a suggested road map for software infrastructure and team talent improvement. He did this in a way that did not alienate the company, so that the company’s management agreed with his suggestions and valued his advice. ![Jonathan Fein](https://a2zweb.co/testimonials/jonathan-fein.webp)Jonathan Fein Sustainability Investments – Asia Lead at Treïs January 20, 2023 Services behind this engagement ------------------------------- - [ Tech Auditing & Strategy Consulting ](https://a2zweb.co/en/services/tech-auditing-strategy-consulting) - [ Investor Execution and Technology Audit ](https://a2zweb.co/en/services/investor-execution-and-technology-audit) More case studies ----------------- - [ Sahseh Sahseh: a new platform, a new team, a clean migration ](https://a2zweb.co/en/case-studies/sahseh-cto-as-a-service-platform-rebuild) - [ EpicSoft Asia UCubix: a B2B game licence distribution platform, built and run ](https://a2zweb.co/en/case-studies/ucubix-b2b-game-licence-distribution-platform) - [ Discova Discova: an independent architecture audit for the leadership team ](https://a2zweb.co/en/case-studies/discova-enterprise-architecture-audit) [ All case studies ](https://a2zweb.co/en/case-studies) Want the same read on your stack? --------------------------------- Every engagement above started with one conversation about what was actually blocking the business. [Book a free consultation](https://calendly.com/a2zweb?utm_source=a2zweb&utm_medium=website&utm_campaign=book_call&utm_content=case_study_detail_cta) [ Contact us ](https://a2zweb.co/en/contact) Reference calls with the people quoted here can be arranged on request.