# The Swing

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-swing

- Industry: Transportation Services
- Headquarters: Seoul, South Korea
- Website: www.swingmobility.co
- Total disclosed funding: $33M
- Latest round: Series B (Feb 7, 2022)
- Investors on record: 10

## About

Based in Seoul, South Korea, The Swing Corp. offers innovative shared mobility solutions, focusing on micro-mobility services such as electric scooters, bicycles, and motorcycles, accessible via a single mobile application.The Swing Corp. specializes in shared mobility solutions. Founded in 2018 in Seoul, South Korea, the company has completed 3 deals, with its most recent deal on February 7, 2022, raising KRW 30 billion in a SERIES B funding round led by White Star Capital. Other notable investors include Hashed Ventures, Humax, MC Partners, Smilegate Investment, and ST Leaders Private Equity. The company is co-founded by Nicole Perreira, San Kim, and Shakil Mahmood, with San Kim serving as the CEO.The Swing Corp. provides a comprehensive suite of shared mobility services that include electric scooters, bicycles, and motorcycles, all accessible through a single mobile application. The platform serves over 3.1 million subscribed users and has facilitated 62 million rides, enhancing urban mobility and reducing reliance on cars, particularly for users without a driver's license. SWING operates across various urban centers in Asia, making significant progress in South Korea and exploring opportunities in the larger Southeast Asian market.SWING's revenue model is primarily based on user transactions facilitated through its app, where customers can rent vehicles for short-term use. The company employs a subscription structure, allowing users to access its fleet of vehicles, with tiered pricing plans that offer varying levels of benefits, including discounts for university students and promotions for frequent users. Revenue is generated through direct-to-consumer transactions based on ride usage, and partnerships with local businesses could further expand revenue streams by integrating promotional offers for users.In February 2022, The Swing Corp. raised KRW 30 billion in SERIES B funding led by White Star Capital, aimed at expanding its electric mobility and charging infrastructure while developing new services in collaboration with local governments. The company plans to enhance its offerings by introducing new products and targeting expansion into additional markets across Southeast Asia.

## Funding rounds

- Series B, Feb 7, 2022, $25M — White Star Capital, Smilegate Investment, Hashed Ventures, Humax, ST Leaders Private Equity, MC Partners
- Series A, Apr 19, 2021, $6.7M — Hashed Ventures, Sazze Partners, Humax, MG Capital, BDC Labs
- Seed, Jan 1, 2019, $0.9M — Fast Investment, Sazze Partners

## Investors

- Fast Investment (https://capitalatlas.ai/funds/fast-investment) — Seed
- Sazze Partners (https://capitalatlas.ai/funds/sazze-partners) — Seed, Series A
- Hashed Ventures (https://capitalatlas.ai/funds/hashed-ventures) — Series A, Series B
- Humax — Series A, Series B
- MG Capital — Series A
- BDC Labs — Series A
- White Star Capital (https://capitalatlas.ai/funds/white-star-capital) — Series B
- Smilegate Investment (https://capitalatlas.ai/funds/smilegate-investment) — Series B
- ST Leaders Private Equity (https://capitalatlas.ai/funds/st-leaders-private-equity) — Series B
- MC Partners (https://capitalatlas.ai/funds/mc-partners) — Series B