# YOUCAR Networks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/youcar-networks

- Industry: Software
- Headquarters: Busan, South Korea
- Website: www.youcarnetworks.com
- Latest round: Seed (Apr 14, 2020)
- Investors on record: 2

## About

YouCar Networks is a mobility technology company focused on enhancing vehicle rental and sharing experiences through innovative services and solutions designed for both individual and corporate users.YouCar Networks was founded in 2018 in Busan, South Korea, and specializes in providing vehicle rental and sharing solutions. The company operates 'YouCar,' a rental service located at KTX stations and airports. Jong-geun Choi serves as both the founder and CEO, leading the company's vision and strategy. YouCar Networks raised Seed funding in April 2020 from BNK Securities and Sunbo Angel Partners, although the financial terms of the deal were not disclosed.YouCar Networks specializes in mobility technology, offering a comprehensive suite of products and services designed to enhance the vehicle rental and sharing experience. Their core offerings include real-time reservation and payment systems, remote vehicle control capabilities, and robust API integrations, all aimed at streamlining the user experience for both individual and corporate clients. The company operates 'YouCar,' a vehicle rental service available at KTX stations and airports across South Korea, catering to a diverse clientele that encompasses both leisure and business travelers. Additionally, YouCar Networks has expanded its footprint to include services such as car-sharing and business vehicle management, leveraging technologies like integrated GPS and communication modems for seamless vehicle oversight and operations. While primarily focused on the South Korean market, the company is exploring potential expansions to other regions for its mobility solutions.YouCar Networks generates revenue through a structured transaction model that includes B2B partnerships and direct-to-consumer sales. Clients typically engage with the company through subscription services that offer various tiers of access to its vehicle rental and sharing solutions. Corporate clients may subscribe to a business vehicle management package that incorporates features such as real-time analytics and remote vehicle control, while individual users can utilize the YouCar mobile app for on-demand rentals. The revenue structure benefits from the integration of payment gateways that facilitate instant transactions for both short-term rentals and longer-term vehicle sharing agreements, ensuring a streamlined purchasing experience for all customers.YouCar Networks is strategizing for future growth through the development of new products and services aimed at enhancing the user experience. The company is exploring opportunities for expanding its operations into new markets, specifically targeting additional regions in Asia by the end of 2023. The recent Seed funding raised in April 2020 will be allocated to support these initiatives, allowing for further investment in technology and infrastructure to facilitate this expansion.

## Funding rounds

- Seed, Apr 14, 2020 — BNK Securities, Sunbo Angel Partners

## Investors

- BNK Securities (https://capitalatlas.ai/funds/bnk-securities) — Seed
- Sunbo Angel Partners (https://capitalatlas.ai/funds/sunbo-angel-partners) — Seed