# carvazo

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

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Seoul, South Korea
- Website: www.carvazo.com
- Total disclosed funding: $1.3M
- Latest round: Series A (Sep 4, 2020)
- Investors on record: 5

## About

Based in South Korea, Carvazo Corp. offers innovative automotive services designed to simplify the vehicle purchasing experience for consumers and dealerships through its comprehensive online platform.Carvazo Corp. is an automotive technology company that provides a platform for vehicle purchasing solutions. Founded in 2015 in Seoul, South Korea, the company has executed 6 deals, with its latest funding round being a Series A in December 2023, where they raised KRW 1,500.000 mn led by We Venture Partners and participated by Strong Ventures. Following this funding, PRND Company acquired a 50% majority stake in Carvazo Corp. The founder's specific history is not publicly available.Carvazo specializes in providing a comprehensive suite of automotive services aimed at streamlining the vehicle purchasing process for consumers and dealerships alike. Their core offerings include an advanced online platform that integrates vehicle inventory management, customer relationship management, and financing solutions tailored to both retail and wholesale markets. The platform facilitates real-time access to a wide range of vehicles, enabling users to compare options based on price, specifications, and availability, ultimately enhancing the consumer experience. Targeting markets across North America and select regions in Europe, Carvazo serves a diverse clientele, including individual car buyers, automotive dealerships, and financial institutions, all seeking efficient solutions to navigate the complexities of car sales and financing.Carvazo generates revenue primarily through a combination of subscription models and transactional fees associated with their platform's services. Automotive dealerships and financial institutions subscribe to the platform to access advanced tools that enhance their operational efficiencies and facilitate customer interactions. Each transaction on the platform typically incurs a standard fee, which is structured around the sale of vehicles or financing agreements processed through the service. By leveraging partnerships with various stakeholders in the automotive space, Carvazo enhances its value proposition, aligning their pricing structure with the specific needs of their clients while promoting a seamless purchasing experience. This transactional framework supports the scalability of their offerings in competitive markets.In December 2023, Carvazo Corp. raised an undisclosed amount in venture funding from PRND Company, which now holds a 50% majority stake. The company plans to utilize this funding to address issues faced by customers who have purchased used cars through their platform, Hey Dealer. Looking ahead, Carvazo aims to expand into new markets, specifically targeting additional regions in North America and Europe, with efforts underway to facilitate this growth in the upcoming year. New product developments are also on the horizon to enhance platform capabilities.

## Funding rounds

- Series A, Sep 4, 2020, $1.3M — Strong Ventures, We Venture Partners
- Seed, Oct 1, 2019 — KB Investment, Korea Tech Incubator for Startup
- Seed, Mar 1, 2017 — Primer

## Investors

- Primer (https://capitalatlas.ai/funds/primer) — Seed
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Seed
- Korea Tech Incubator for Startup — Seed
- Strong Ventures (https://capitalatlas.ai/funds/strong-ventures) — Series A
- We Venture Partners (https://capitalatlas.ai/funds/we-venture-partners) — Series A