# Carplat

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/carplat

- Industry: Transportation Services
- Headquarters: Seongnam, South Korea
- Website: www.carplat.co.kr
- Total disclosed funding: $169M
- Latest round: Series C (Oct 8, 2019)
- Investors on record: 2

## About

Based in South Korea, Carplat operates a digital platform focused on enhancing user account management through streamlined login and identity verification services, effectively addressing common digital engagement barriers.Founded in 2016 and headquartered in Seongnam, South Korea, Carplat specializes in digital identity management solutions. The company has engaged in 5 significant deals, with the most recent occurring in December 2022, when it raised KRW 160 billion from ST Leaders Private Equity and STIC Investments. The platform's development aims to facilitate a more secure and efficient user experience, targeting both individual consumers and businesses across markets in South Korea, Japan, and Southeast Asia. The founder's previous endeavors include other ventures, although specific details are not disclosed.Carplat's platform offers a comprehensive suite of digital services designed to simplify the login and account management process for users. Key features include password recovery, user ID storage, and support for new company sign-ups. These services are tailored to enhance security and ease of use, catering to a diverse clientele that spans various sectors. The platform addresses the critical need for efficient identity verification in today's digital landscape, promoting improved customer retention and engagement.In the most recent fiscal year, Carplat reported a revenue of KRW 2,393,007,686.80. The company generates income primarily through subscription-based models and partnerships with businesses that leverage its identity management services. Clients subscribe to various pricing plans, allowing them to select features based on their needs, which contributes to a stable revenue stream while providing flexibility for scaling usage.Following their latest funding round on December 20, 2022, where Carplat secured KRW 160 billion, the company aims to enhance its product offerings and expand into new geographic markets. This funding will be directed towards the development of upcoming features in their digital platform, as well as targeted expansion efforts in Southeast Asia and Japan, with specific timelines for rollout yet to be determined. These strategic initiatives are focused on solidifying their market position and improving user engagement.

## Funding rounds

- Series C, Oct 8, 2019, $169M — STIC Investments, Humax Digital

## Investors

- STIC Investments (https://capitalatlas.ai/funds/stic-investments) — Series C
- Humax Digital — Series C