Founder: Jongsoo Oh
Founded in: 2016
Financing status: Undisclosed amount for undisclosed round in 2017.
Hebronstar Ventures announced that it has invested an unrevealed amount of funding in Rinnov Partners.
Ggulcar, a platform for buying and selling used cars, was developed by Rinnov Partners in order to open up and streamline this often complex market. The platform compensates for the defects of existing used car markets so that customers no longer need to meet each other when buying and selling vehicles.
What’s more, Ggulcar allows sellers and buyers to select their prices based on used-car selling big data so that all parties can be satisfied with their transactions. According to Rinnov Partners, Ggulcar’s prices are usually 5-10% cheaper than the average prices of used cars sold on other platforms. Furthermore, sellers can charge 5-10% more when they sell through Ggulcar. The platform has supported around USD 2 million in transactions.
Ggulcar aims to increase its supply of used cars and total sales by a factor of ten streamlining the market and strict quality control.
Jongsoo Oh, CEO of Rinnov Partners, recently emphasized that Ggulcar aims to revolutionize the used car-buying experience. He added that his team’s main focus will be to improve customer’s experiences when purchasing secondhand cars. He also said that he hopes that Ggulcar will expand its services throughout the world.
This article, entitled “Secondhand car platform Ggulcar raises funding from Hebronstar Ventures”, was written in Korean by Platum, edited by AllTechAsia.