Korean startup Macarong Factory, the operator of the vehicle management app ‘Mycle‘ has secured a 5 billion KRW Series A investment from Murex Partners. Mycle is an O2O (Online to Offline) maintenance platform that allows users to access essential vehicle maintenance services, such as engine oil changes and tire replacements, at the same price nationwide through a network of affiliated repair shops.

Currently, Mycle has over 2,000 partner repair shops across the country and has become the first vehicle management app to surpass 800,000 cumulative transactions this year.

Since its establishment in 2015, Macarong Factory’s revenue doubled in 2023 compared to the previous year, and the company has achieved annual profitability. The company’s success is attributed to providing transparent information to car owners, enhancing the convenience of vehicle maintenance, and consistently connecting partner shops with maintenance customers. The high volume of visits and efficient customer management system have led to high satisfaction among existing partner shops, which has driven the continued increase in new partner sign-ups, consequently boosting revenue.

With this recent investment, Macarong Factory plans to enhance the appeal of its maintenance reservation services and maximize customer satisfaction. Recognizing that many repair shops face challenges in customer management, inventory management, and parts supply, the company intends to intensify efforts to support the success of its partner shops. The goal is to expand customer engagement so that more vehicle owners can experience the maintenance services offered by Mycle.

Dongmin Kang, CEO of Murex Partners, explained the rationale behind the investment, stating, “Macarong Factory is expected to grow into a company that can digitally innovate the vehicle maintenance ecosystem beyond being the number one vehicle management app in Korea.”

Kipung Kim, CEO of Macarong Factory, emphasized, “By transparently connecting car owners with repair shops nationwide, we aim to alleviate the anxiety caused by information asymmetry and revolutionize the vehicle maintenance ecosystem. Furthermore, we will expand our business to become a partner that supports the success of repair shop owners who have consistently believed in and contributed to Mycle’s growth.”