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THE INVESTOR
December 15, 2019
Big Reunion

Startups & Investors

SoCar takes over ChaCare to further expand business

  • PUBLISHED :July 19, 2019 - 15:49
  • UPDATED :July 19, 2019 - 15:49
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South Korea’s largest car-sharing firm SoCar said on July 19 that it has taken over car-repair startup ChaCare as part of its plan for business expansion in the mobility segment.

ChaCare, which started as an on-demand car-washing business in 2015, offers services ranging from car washing and interior cleaning to waxing and repairing headlights. 




SoCar said user data compiled through ChaCare services would help improve the firm’s car maintenance for shared vehicles.

“Auto maintenance and data optimization are crucial to mobility services,” said SoCar CEO Lee Jae-woong. “SoCar will try to nurture the domestic mobility ecosystem while working with other startups.”

The company declined to reveal the exact value of the takeover.

ChaCare started working with SoCar in February last year to operate car maintenance services for the latter. It had received investments from Strong Ventures, Primer and Planter Partners.

The latest acquisition came after SoCar took over VCNC, which operates ride-hailing app Tada and Between, a mobile messenger for couples, in July 2018. It also purchased a stake in autonomous driving startup RideFlux in the same month.



By Kim Young-won (wone0102@heraldcorp.com)

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