SOCAR KOREA is a Korean eco-friendly car sharing community that facilitates travelers to share cars with others journeying along the same route. The startup was founded in March 2012 and has garnered significant attention in the South Korean startup scene. Notably, in 2015, Socar secured a substantial $18 million round of funding, which at the time stood as one of the largest deals for a South Korean startup. This funding round was led by Bain Capital, a prominent US investor managing $80 billion in assets.
Socar operates through a user-friendly website and smartphone applications, enabling over 1,700,000 registered users to seamlessly book cars for their transportation needs. The service has garnered an impressive user base, with 50,000 monthly active users and over 80,000 transactions occurring each month, translating to more than one car booking made every 30 seconds. The company operates within the industries of mobility and transportation.
Most recently, on 08 March 2022, Socar received a significant KRW183.20B Series G investment from Lotte Rental, underscoring the continued confidence and support from investors in the growth and potential of the company.
