"Securing Mobility Market Leadership" Tmap Mobility Raises 400 Billion KRW Investment

T map

[Asia Economy Reporter Seulgina Jo] Tmap Mobility, a mobility company spun off from SK Telecom, has raised 400 billion KRW in funding from domestic and international private equity funds (PEFs). With this investment, Tmap Mobility plans to take full-scale steps to secure a leading position in the mobility market by recruiting talented personnel and entering new businesses.

On the 9th, Tmap Mobility announced that at the board meeting held the previous day, it resolved to conduct a third-party allotment of common stock worth 400 billion KRW. The issued shares amount to 4,575,718, with a new share issuance price of 87,418 KRW. The stock allocation targets are Apalma Capital and East Bridge Partners, with each private equity fund securing 14%, totaling 28% of Tmap Mobility’s shares.

This investment was a result of the high market evaluation of Tmap Mobility’s growth potential. Previously, when Tmap Mobility received a 50 million USD (approximately 59.1 billion KRW) investment from Uber, the company valuation was 1 trillion KRW. With this additional successful fundraising, the post-money valuation has increased to 1.4 trillion KRW. Tmap Mobility aims to achieve annual sales of 600 billion KRW and a company valuation of 4.5 trillion KRW by 2025.

Tmap Mobility plans to launch various services focused on consumer convenience and safety based on its navigation app Tmap. The four core businesses are ▲ Platform (parking, advertising, UBI) ▲ Tmap Auto (vehicle infotainment, payment) ▲ Mobility On-Demand (taxi-hailing, designated driver) ▲ All-in-one MaaS (Mobility as a Service).

Additionally, it plans to introduce a subscription-based pricing model that bundles rental cars, car sharing, short-distance transportation, and parking with discount benefits, differentiating itself from existing operators.

Ha Hyung-il, Head of SK Telecom Corporate 2 Center, said, "Following Uber, the domestic and international investments once again prove the high corporate value of Tmap Mobility. We will continue to expand customer benefits through healthy competition in the mobility market."

Lee Jong-ho, CEO of Tmap Mobility, stated, "We will aggressively enter new businesses that can expand the market size as well as enhance existing businesses. With the goal of changing the world through innovation in mobility, we will strive to ensure that users’ experiences lead to happiness."

East Bridge Partners, which participated in this investment, is a private equity fund established in 2011 by CEO Lim Jeong-gang after leaving Stick Investment, continuing investments in various fields such as advanced industries and consumer goods. Apalma Capital, which became independent from Standard Chartered Private Equity (SC PE) in 2019, is a private equity fund active in six countries including Southeast Asia, Africa, India, China, and the Middle East. In Korea, it has participated as a financial investor (FI) in companies such as Daelim Group, Hyundai Motor Group, and Hyundai AutoEver.