Digital Platform for Car Purchase and Management
Exploring Various Collaborations with Investors
Planning IPO in 2026
Mobility life platform 'Chabot Mobility' has successfully raised 12 billion KRW in Series C funding.
With this investment, Chabot Mobility has recorded a cumulative investment amount of approximately 22.6 billion KRW and plans to solidify its position as an integrated mobility solution company leading the digital auto-commerce market.
The Series C investment included Hanwha Investment & Securities, Hyundai Investment Partners, GLK Equity Investment, Hana Ventures, Hyundai Marine & Fire Insurance, and SK Networks, with Quantum Ventures preparing for final investment payment.
Chabot Mobility reaffirmed its growth potential by being valued at more than twice the company valuation compared to the previous round. After raising a cumulative 10.6 billion KRW in the Series B round at the end of 2021, it achieved this result in about two years.
Founded in 2016, Chabot Mobility provides an integrated platform service that solves complex issues in the vehicle purchase and operation process all at once digitally, from car purchase to customized insurance, finance, and vehicle management. As a B2B2C business model, it operates the integrated vehicle solution app for drivers 'Chabot', the sales management partner for new car dealers 'Chabot Prime', and the essential app for used car dealers 'Chateamjang'.
Chabot Mobility has been rapidly expanding with an average annual sales growth rate of 150% over seven years. The cumulative number of service users reaches 1.2 million, and the cumulative transaction amount of services amounts to 720 billion KRW. Among approximately 60,000 dealers in Korea, about 30,000 dealers, accounting for 50%, have joined the Chabot membership. This year, the company has set a goal to achieve the break-even point (BEP) by focusing on the digital auto-commerce business centered on new car purchase services. Through this, it plans to improve its profit structure, establish a sustainable growth structure, and pursue an initial public offering (IPO) in 2026.
Chabot Mobility is exploring various collaborations with investors. With Hana Financial Group, it plans to provide consumers with a more convenient financial experience by linking vehicle purchase and financial products through API integration with Hana Card and Hana Capital. It is also seeking synergies in various financial businesses, such as prepaid vehicle service payment business and used car business cooperation with Hana Capital.
With Hyundai Marine & Fire Insurance, beyond existing B2B cooperation projects, it plans to expand into automobile insurance sales through connected data-based embedded insurance, providing more sophisticated customer-tailored insurance services. It also plans to expand its presence in the vehicle management market through new subscription service model development linked to 'The Carpet', SK Networks' imported car vehicle management platform acquired in May.
Kang Sung-geun, CEO of Chabot Mobility, said, "Through new funds and strategic collaboration with investors, we will secure the fundamental competitiveness of the auto-commerce business model, improve the profit structure, and build a sustainable growth system while aiming to expand beyond Korea to the global market."
A representative from Hyundai Investment Partners said, "Chabot Mobility has stably secured the domestic new and used car dealer network, building a strong channel and stable revenue model that can attract customers without marketing costs. The continuous expansion of the business model through AI repair estimates and imported car maintenance also indicates great growth potential in the future."
A representative from Hanwha Investment & Securities explained the investment background, saying, "Chabot Mobility is an innovative mobile brokerage platform providing one-stop vehicle-related services from new and used car purchases to insurance and aftercare. Its strong market position and scalable business model are expected to shine even more through future growth and IPO."
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