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NHN invests W5b in local ride-hailing platform Macaron Taxi

Ride-hailing platform Macaron Taxi’s operator KST Mobility said Wednesday it has received additional 5 billion won ($4.3 million) investment from NHN, capping the initial 18-billion-won investment required for its app-based service. 

A taxi design of ride-hailing platform Macaron Taxi (KST Mobility)
A taxi design of ride-hailing platform Macaron Taxi (KST Mobility)

The two firms also agreed to collaborate on adding new services to the platform for user convenience, starting with NHN’s online payment system Payco.

KST Mobility started its test run of the platform, titled “Series A,” in February last year, while introducing an online application in April. The service is currently available in Seoul, Daejeon, Suwon and Jeju Island.

The company has been securing investments from local firms. In July last year, it received 5 billion won from Hyundai Motor and Kia Motors, which have pledged to become smart mobility solutions provider here and abroad. The mobility firm also got 8 billion won from local investment firms.

In addition to the 18 billion won investment required for Series A, KST Mobility also attracted 5 billion won seed funding from investment firm Neofly.

Macaron Taxi is a reservation-based cab service. Its latest investment deal is in contrast to Tada, a popular ride-hailing service currently facing a threat from new regulations to limit its use of rental vehicles following protests by the taxi industry.

By Shim Woo-hyun (ws@heraldcorp.com)
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