Design & Practice (CEO Sangyeon Jeong), which operates the automobile lease and rental management platform Chazm, announced on the 27th that it has completed Series A investment of 15.1 billion won.
This round was participated by lead investor Stonebridge, along with financial investors such as KB Investment and Futureplay, as well as domestic and international strategic investors such as ZeroOne Ventures (affiliated with Hyundai Motor Company), LX Ventures (affiliated with LX Group), and Shorook HQ, a global investment firm based in Abu Dhabi, United Arab Emirates. Futureplay, an early investor, has continued to provide follow-on investments throughout the Pre-A, Bridge, and Series A rounds, bringing the total amount raised to KRW 19 billion, including this round.
Chazm is a data-driven platform that manages the entire car leasing and rental process, from contract signing and operation to return and distribution. By systematically managing lease and rental vehicle history, it allows customers to transparently check vehicle condition and transaction terms, and it systematizes management standards required by financial institutions and the broader industry. Through this, it aims to reduce consumer risks caused by information asymmetry and complex procedures.
Design & Practice plans to gradually expand its global distribution and export business, utilizing leased and rented vehicles based on Chasm, focusing on the Japanese and Middle Eastern markets.
Jeong Sang-yeon, CEO of Design & Practice, said, “The automobile market is subject to significant consumer risk due to price fluctuations and the opacity of the distribution structure.” He added, “Chazm aims to transform vehicles into manageable consumer assets and change customers’ vehicle consumption habits.”
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