About Auto Retail & Aftersales sector in Seoul, South Korea
The Auto Retail & Aftersales sector in Seoul, South Korea comprises 68 companies, including 23 funded companies having collectively raised $245M in venture capital money and private equity. Out of these, 12 are Series A+ funded.
Auto Retail & Aftersales sector in Seoul, South Korea has seen 2 acquisitions and 2 IPOs. This represents almost 5.9% of all such companies - which is higher than the 4.3% exit rate of tech companies in general.
This sector includes companies selling new & used vehicles and their parts & accessories along with offering aftermarket repair & maintenance services and ancillary services including automotive finance and insurance.
Auto Retail & Aftersales sector is also known as Automotive Repair & Service or Automotive Sales & Service.
Companies retailing new & used vehicles and their replacement parts & accessories. Companies offering aftermarket repair & maintenance services including roadside assistance services, inspection & valuation services, along with ancillary services such as automotive finance & insurance. Internet-first companies in this space would also be included. Companies retailing industrial vehicles, bicycles, wheelchairs, etc, diversified classified portals, diversified finance & insurance companies. Also excludes vehicles & part manufacturers, mobility companies, automotive software providers, automotive magazines, and content portals.
Top Auto Retail & Aftersales Companies in Seoul, South Korea
There are 68 Auto Retail & Aftersales startups in Seoul, South Korea which include SK Encar, Hey Dealer, Getcha, Autowini.com, Chutcha. Out of these, 23 startups are funded, with 12 having secured Series A+ funding.
Over the past 10 years, an average of 2 new companies have been launched annually.
Here is the list of top Auto Retail & Aftersales startups in Seoul, South Korea
1. SK Encar
SK Encar is an online used car listing platform. Claims to list more than 1 million cars as of August 2015. Claims to attract around 400,000 unique visitors per day on its online and mobile sites. Also has an inbuilt mobile and web auction system that allows users to participate in bids for used cars. Carsales.com purchased a 49.9% stake in SK Encar for $126M in 2014.
Key facts about SK Encar
- Founded Year: 2000
- Location: Seoul (South Korea)
- Stage: Acquired
- Total Funding till date: $126M
- Investors: Carsales
- Latest Funding Round: PE, Mar 07, 2014, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 2 of 29 Competitors
2. Hey Dealer
App-driven and auction-based C2B car selling platform. Users can sell the cars on an auction-based system to dealers through the platform. Sellers should provide car details, owner details, expected price range, and more for selling the car. Their app is available for both Android and iOS devices.
Key facts about Hey Dealer
- Founded Year: 2014
- Location: Seoul (South Korea)
- Stage: Series D
- Total Funding till date: $97.9M
- Investors: Korea Development Bank Europe, IMM Investment and 6 Others
- Latest Funding Round: Series D, Feb 05, 2024, $*****
- Tracxn Score: 56/100 What is this?
- Competitors Rank: 1 of 10 Competitors
3. Getcha
App that provides an auction-based marketplace for new cars. Buyers can configure a car of their choice & submit a request for price quotations. The platform shares the buyer's information with its dealership network, collects multiple price quotes, and provides users with the best available offer in real-time. Agreeing with the offer, buyers can deposit a down payment and schedule a pickup/delivery of their vehicle. The app is available for both Android & iOS devices.
Key facts about Getcha
- Founded Year: 2015
- Location: Seoul (South Korea)
- Stage: Series A
- Total Funding till date: $9.62M
- Investors: Shinhan Capital, SK Energy and 6 Others
- Latest Funding Round: Series A, Apr 12, 2022, $*****
- Tracxn Score: 46/100 What is this?
- Competitors Rank: 1 of 11 Competitors
4. Autowini.com
Autowini.com is a global marketplace for Korean & Japanese used car, bus, truck, equipment and auto parts. Claims to have more than 10,000 dealers on the platform.
Key facts about Autowini.com
- Founded Year: 2014
- Location: Seoul (South Korea)
- Stage: Funding Raised
- Investors: Atinum Investment and BonAngels Venture Partners
- Tracxn Score: 41/100 What is this?
- Competitors Rank: 6 of 52 Competitors
5. Chutcha
Chutcha is an online portal that allows users to buy and sell their used cars to automotive dealerships. The company claims that all the vehicles listed on the platform are inspected and all the dealerships are verified to comply with the safe transaction standards. The platform also provides users with information on vehicle status, repair, and accident. Users can also sell their used cars to the dealerships using the platform. The smartphone app is available for iOS and Android users.
Key facts about Chutcha
- Founded Year: 2014
- Location: Seoul (South Korea)
- Stage: Unfunded
- Tracxn Score: 41/100 What is this?
- Competitors Rank: 5 of 29 Competitors
Companies founded year-on-year in the Auto Retail & Aftersales sector in Seoul
7 Auto Retail & Aftersales startups in Seoul were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 4 |
2022 | 2 |
2021 | 2 |
2020 | 4 |
2019 | 7 |
2018 | 3 |
2017 | 3 |
Stage-wise distribution of Auto Retail & Aftersales sector companies in Seoul
Out of the total 68 Auto Retail & Aftersales companies in Seoul, 23 have secured funding. Among them, 12 have reached Series A or higher, and 6 to Series B or beyond.
Founded - 68
Funded - 23
Series A+ - 12
Series B+ - 6
Series C+ - 6
Company Stage | No. of companies |
|---|---|
Founded | 68 |
Funded | 23 |
Series A+ | 12 |
Series B+ | 6 |
Series C+ | 6 |
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Funding Trends in the Auto Retail & Aftersales sector in Seoul
Total funding year-on-year in the Auto Retail & Aftersales sector in Seoul
The Auto Retail & Aftersales sector in Seoul saw a total funding of more than $119M in the last 10 years. The most amount of funding was in 2021 at more than $40.4M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $2.77M |
2024 | $35.8M |
2023 | $3.17M |
2022 | $2.9M |
2021 | $40.4M |
2020 | - |
2019 | $25.4M |
2017 | - |
Recent Funding Rounds in Auto Retail & Aftersales in Seoul
In the year 2025, till August 2025, Auto Retail & Aftersales companies in Seoul have raised $2.77M in equity funding across 2 rounds.
In the same period last year (i.e. till February 2024), Auto Retail & Aftersales companies in Seoul had raised $35.8M across 2 rounds.
So, 2025 has seen a 92.26% drop in funding in Auto Retail & Aftersales companies in Seoul as compared to 2024.
Here are some recent, important funding rounds in Auto Retail & Aftersales companies in Seoul:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 3826 | Aug 08, 2025 | ||
Series A | 7336 | Feb 19, 2025 | and 1 more | |
Series A | 2788 | Feb 20, 2024 | ||
Series D | 1191 | Feb 05, 2024 | ||
Series A | 9972 | Jan 02, 2023 | - |
Top Investors in Auto Retail & Aftersales in Seoul
Plug and Play Tech Center is the top investor in Auto Retail & Aftersales companies in Seoul based on number of companies invested.
Here are some top investors in Auto Retail & Aftersales companies in Seoul:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | - | |
Hong Kong (China) | - | |
Seoul (South Korea) | ||
Fort Worth (United States) | - | |
New York City (United States) | - |
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M&A activity in Auto Retail & Aftersales sector in Seoul
In the year 2023, till December 2023, 1 acquisition happened in Auto Retail & Aftersales sector in Seoul.
Here are some recent, important acquisitions in Auto Retail & Aftersales sector in Seoul:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Dec 05, 2023 | ||
Business Acquisition | Nov 04, 2020 | ||
Business Acquisition | Oct 20, 2017 |
Acquisition trends in Auto Retail & Aftersales sector in Seoul
Here are the acquisition trends in Auto Retail & Aftersales sector in Seoul:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 1 |
2022 | - |
2021 | - |
2020 | 1 |
2019 | - |
2018 | - |
2017 | 1 |
IPOs in Auto Retail & Aftersales in Seoul
In the year 2004, till December 2004, 1 IPO happened in Auto Retail & Aftersales sector in Seoul.
Here are some recent, important IPOs in Auto Retail & Aftersales sector in Seoul:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Dec 03, 2004 | Korea Exchange (KRX) | |
Apr 27, 2000 | Korea Exchange (KRX) |
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Top News in Auto Retail & Aftersales in Seoul
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