When was SOCAR founded?

SOCAR was founded in 2017 and raised its 1st funding round 2 years after it was founded.

Where is SOCAR located?

SOCAR is headquartered in Kuala Lumpur, Malaysia.

Which legal entities is SOCAR associated with?

SOCAR is associated with SOCAR MOBILITY MALAYSIA SDN. BHD.

How many employees does SOCAR have?

As of Aug 31, 2026, the latest employee count at SOCAR is 166.

Is SOCAR a funded company?

SOCAR is a funded company, having raised a total of $73M across 2 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Dec 26, 2019.

How much is SOCAR worth?

The latest valuation of SOCAR is $***** as of Sep 17, 2021.

When was the latest funding round of SOCAR?

SOCAR's latest funding was a $***** Series B round on Sep 14, 2021, with participation from 2 investors.

What is the annual revenue of SOCAR?

Annual revenue of SOCAR is between $10M and $50M as on Dec 31, 2024

Where does SOCAR rank among its competitors?

SOCAR ranks 1st amongst 15 active competitors, of which 5 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was Carre Mobility, which secured an undisclosed amount in Jan, 2023.

Who are the top competitors of SOCAR?

SOCAR's top competitors include GoCar Mobility, TREVO and Moovby. Among them, Carre Mobility secured the most recent funding round in January, 2023.

SOCAR - 2026 Company Profile, Team, Funding, Competitors & Financials

SOCAR is a series B company based in Kuala Lumpur (Malaysia), founded in 2017. It operates as an App-based platform offering self-drive car rentals through an aggregated selection of vehicles. SOCAR has raised $73M in funding from investors like Sime Darby, Eugene and KH Energy, with a current valuation of $*****. The company has 15 active competitors, including 5 funded and 1 that has exited. Its top competitors include companies like GoCar Mobility, TREVO and Moovby.

Company Details

App-based platform offering self-drive car rentals through an aggregated selection of vehicles. It allows users to browse and book cars from multiple sources within a single interface. The platform focuses on short-term and flexible rental needs for individual users.

Website: socar.my/consumer
Social
Email ID: *****@socar.my
Part Of

Key Metrics

Founded Year

2017

Location

Kuala Lumpur, Malaysia

Stage

Series B

Total Funding

$73M in 2 rounds

Latest Funding Round

Series B, Sep 14, 2021, $*****

Post Money Valuation

$***** as on Sep 17, 2021

Investors

Sime Darby & 3 more

Ranked

1^st among 15 active competitors

Annual Revenue

$10M - $50M as on Dec 31, 2024

Employee Count

166 as on Aug 31, 2026

Similar Companies

Zoomcar & 685 more

View SOCAR's full profile

SOCAR is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
SOCAR MOBILITY MALAYSIA SDN. BHD CIN: 201701009617 , Malaysia, Active	Dec 31, 2016	$10M - $50M (As on Dec 31, 2024)	-	-

SOCAR has raised a total funding of $73M over 2 rounds. Its first funding round was on Dec 26, 2019. Its latest funding round was a Series B round on Sep 14, 2021 for $*****. 2 investors participated in its latest round. SOCAR has 4 institutional investors.

Here is the list of recent funding rounds of SOCAR:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Sep 14, 2021	6712561	Series B	4739307	8037173	7813059	1805562
Dec 26, 2019	5147050	Series A	4944375	1923663	Eugene & 1 more	7838659

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View details of SOCAR's funding rounds and investors

Here are the details of SOCAR's key team members:

Shylendra A S Nathan: CEO of SOCAR.

SOCAR's Board of Directors

SOCAR's board has 4 active members. Wong Wai Kwan, Lee Hyun Woo, LEE Jae Seung and Lim Jack Phin are independent board members.

Here is the list of SOCAR's board of directors:

Name	Type	Representing	Status	Duration
Wong Wai Kwan	Independent board member	-	Current	-
ghlvbsd	Independent board member	-	Current	2y 7m
opwfybi	Independent board member	-	Current	5y 7m
rprdgmb	Independent board member	-	Current	5y 1m

View details of SOCAR's Founder profiles and Board Members

SOCAR's employee count trend

SOCAR has 166 employees as of Aug 26. Here is SOCAR's employee count trend over the years:

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Top competitors of SOCAR include GoCar Mobility, TREVO and Moovby. Here is the list of Top 10 competitors of SOCAR, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	SOCAR 2017, Kuala Lumpur (Malaysia), Series B	App-based platform offering self-drive car rentals through an aggregated selection of vehicles	$73M	EastBridge Partners, Eugene & 2 others	66/100
2nd	GoCar Mobility 2014, Kuala Lumpur (Malaysia), Acquired	Online car rental service	-	Mayflowercarrental	48/100
3rd	TREVO Malaysia, Unfunded	App-based P2P platform offering car sharing services	-	-	46/100
4th	Moovby 2016, Kuala Lumpur (Malaysia), Seed	Online P2P car rental aggregator	$864K	Accelerating Asia, Cradle & 7 others	37/100
5th	The Carpedia 2013, Kuala Lumpur (Malaysia), Seed	Online car rental platform	$132K	1337 Ventures	32/100
6th	Drive.MY 2014, Kuala Lumpur (Malaysia), Unfunded	Car rental marketplace	-	-	30/100
7th	Kwikcar 2016, Petaling Jaya (Malaysia), Deadpooled	On-demand peer-to-peer car rental platform	$46.4K	ScaleUp Malaysia	30/100
8th	Carre Mobility 2020, Berlin (Germany), Seed	Provider of mobility solutions for residential companies and neighborhood integration	-	Techstars	24/100
9th	Sabah Car Rental & Tour 2019, Sandakan (Malaysia), Unfunded	Online-based platform for car-rental	-	-	24/100
10th	Kings Car Rental 2010, Kota Kinabalu (Malaysia), Unfunded	Online rental platform offering cars	-	-	24/100