'Banban Taxi' Konatus Raises 3.5 Billion KRW Investment... Total 8.5 Billion KRW Accumulated

[Asia Economy Reporter Buaeri] KonaTUS, the operator of Banban Taxi, announced on the 7th that it has received an investment of 3.5 billion KRW.

This investment is a bridge round connecting Series A and the next series, with participation from Humax. KonaTUS raised 3.5 billion KRW last April through Series A funding from SK Gas, TBT, BonAngels, and SparkLabs Ventures. With this, KonaTUS has secured a total investment of 7 billion KRW and completed the Series A bridge round. The cumulative investment amount raised by KonaTUS is 8.5 billion KRW.

Banban Taxi continues its growth momentum despite the COVID-19 situation. In the second quarter of this year, the number of calls increased by more than 1000% compared to the previous year, and the number of rides also increased by 1200%. Monthly transaction volume also grew by over 950%.

At the beginning of this year, Banban Taxi acquired T1 Mobility to establish a business foundation for nationwide expansion. Starting with Gwangju and Suwon, it recently announced plans to expand service areas to Jeju, Chungbuk, and Gyeongnam, aiming for nationwide platform expansion within the year. Currently, about 120,000 taxi drivers can use the Banban Taxi platform.

Through this recent investment, Banban Taxi plans to focus more on nationwide platform expansion and discovering win-win models with local businesses.

Additionally, it plans to evolve into a platform business operator in the form of Software as a Service (SaaS) that provides stable connections with taxi drivers across all mobility sectors by expanding the open API business beyond taxis to other areas such as designated drivers and delivery.

Kim Gidong, CEO of KonaTUS, stated, "Based on this investment, we plan to secure key personnel across the board, including server and client developers, business, and operations."