Design & Practice, which operates the automobile leasing and rental innovation platform 'Chazm', announced on the 27th that it was selected as the first and only fintech company established less than one year ago in the third round of 'K-Fintech 30' recruitment announced by the Financial Services Commission.
Design & Practice, a mobility fintech company founded in May 2024, launched the car leasing and rental platform "Chasm" around the same time. Chasm has been growing rapidly, reaching 300,000 members and KRW 118 billion in cumulative transactions in just a year and a half since its launch.
"K-Fintech 30" is a program that discovers and supports innovative companies in the domestic fintech industry. Since 2023, 10 companies have been selected annually. Chazm was selected in recognition of its technological prowess and expertise in improving the opaque fee practices and complex contract processes in the auto finance market through an AI analysis reporting system and standardized, non-face-to-face brokerage process.
Through this selection, Design & Practice will receive various support, including access to policy funding, expanded investment attraction and IR opportunities, participation in the financial regulatory sandbox, expert consulting, and overseas market entry.
CEO Jeong Sang-yeon said, “Chazm’s rapid resolution of the asymmetrical structure of the automobile financing market led to this selection,” and added, “As automobiles are high-priced consumer goods, we will continue to collaborate with industry partners to create a transparent and fair ecosystem.”
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