Chabot Mobility

About Chabot Mobility

Chabot Mobility, established in September 2016 by CEO Kang Seong-geun, is a South Korean mobility platform company aiming to create a new digital-based ecosystem for the automotive market. Kang's prior experience as a successful imported car dealer, where he witnessed firsthand the fragmented and often frustrating process for consumers, directly inspired the company's creation. He aimed to resolve information asymmetry and unify the entire vehicle ownership lifecycle through digital solutions.

The company operates on a B2B2C business model, providing an integrated suite of services that cover the entire driver lifecycle: buying, operating, and selling a vehicle. Its core offerings include the 'Chabot' app for consumers, 'Chabot Prime' for new car dealers, and 'Cha Team Manager' for used car dealers. For consumers (B2C), the 'Chabot' app, launched in September 2022, serves as a one-stop shop for comparing new car quotes, accessing financial and insurance products, managing vehicle maintenance, and selling used cars. For businesses (B2B), the 'Chabot Prime' and 'Cha Team Manager' apps provide sales and customer management solutions for a network of over 30,000 dealers. This network serves as a crucial link to consumers, creating business synergies. Revenue is generated through brokerage fees from connecting these services and is expanding into a SaaS model for its dealer management solutions.

Chabot Mobility has demonstrated significant growth, reporting an average annual revenue increase of 150% over seven years and a cumulative service transaction volume of 720 billion won. The company has successfully raised a total of 22.6 billion won in funding, including a 12 billion won Series C round in 2023, with investors like Hanwha Investment & Securities, Hyundai Investment Partners, and SK Networks. Through its subsidiary, Chabot Motors, the company also acts as an importer for automotive brands like INEOS Grenadier and Morgan. The company has also expanded its service offerings through partnerships and acquisitions, including 'The Carpet', an imported car management platform. Looking ahead, Chabot Mobility plans to pursue an IPO by 2026 and is exploring global expansion into markets like North America and Japan.