Getcha

About Getcha

Getcha is a South Korean platform that streamlines the new car purchasing process by providing transparent pricing and financing options. The company was founded in August 2015 by CEO Jeong Yu-cheol. His inspiration for the startup came from his own frustrating experience when buying a car, where he encountered inconsistent pricing and a lack of clear information. Before founding Getcha, Jeong worked at Samsung, but a side project helping a startup in the social networking space sparked his interest in building his own company.

The platform's primary service allows consumers to compare real-time quotes and promotional discounts from multiple official dealers without visiting showrooms. This addresses the issue of price discrepancies for the same car model. Getcha also functions as an auto-fintech platform, enabling users to compare over 50 different financial products, such as leases, long-term rentals, and installment plans, from roughly 20 financial companies to find the most suitable terms. The business model caters to both car buyers and dealers. Consumers get access to transparent information and the best prices, while dealers can connect with customers who have a high intent to purchase. The platform for dealers operates on a subscription-based SaaS model. Getcha also offers an 'Auto Cashback' service for card payments, certified used cars, a ChatGPT-based AI vehicle recommendation service, and a comprehensive 'Getcha Care' service for exterior damage management.

Since its launch, Getcha has seen significant growth, achieving over 1.5 million cumulative downloads and attracting a large user base, with 74% of domestic car dealers reportedly using the service. In October 2021, the company secured ₩8 billion in a Series A funding round from investors including SK Energy, Company K Partners, and Korea Investment Partners. The platform continues to expand its offerings, aiming to cover the entire car life cycle, from purchase and maintenance to selling.