Mr Pic the operator of used car O2O (online to offline) service ‘ChutCha’ has secured an investment of US$1.3 (KRW 1.5b) from KDB Industry Bank.
This investment follows MrPic’s success in July after securing US$1.3m (KRW 1.5b) three way investment from East Gate Partners, DSC Investment and Song Hyun Investment. This brings the yearly investment total to US$2.6m (KRW 3b). Mr Pic, debuted ‘ChutCha’ in January 2015 and has amassed more than 300 thousand downloads and is the leading use car O2O provider in Korea. Since opening, the platform has turned over US$34 million (KRW 40b) in sales revenue). The platform is among the fastest growing startups in Korea.
Song Woo Dee the representative from Mr Pic commented, “The investments will be used towards developing contents needed by our customers to provide an even more secure platform”. “We will continue in striving to be the best car sales O2O business in Korea”.
Mr Pic’s ChutCha app is available as a free download from both Google Play and Apple App Store.
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