New Paradigm Investment Makes Follow-up Investment in Ride-Sharing Startup 'Tagogayo'

From the left in the photo: Bae Sangseung, Co-CEO of New Paradigm Investment; Choi Soonseong, CEO of Tagogayo; Park Jehyeon, Co-CEO of New Paradigm Investment. [Photo by New Paradigm Investment]

[Asia Economy Reporter Kim Jong-hwa] New Paradigm Investment announced on the 30th that it has made a pre-Series A investment in the ride-sharing startup 'Tagogayo.'

New Paradigm Investment, recently selected as a new operator of TIPS by the Ministry of SMEs and Startups, made this second follow-up investment in Tagogayo following its initial seed investment in December 2019.

Park Je-hyun, co-CEO of New Paradigm Investment, said, "We made a follow-up pre-Series A investment due to the high growth potential. Despite the decrease in overseas travel, domestic travel and mobility demand have increased, and Tagogayo, a consumer-centered travel mobility platform, is setting new monthly sales records." He added, "In the post-COVID era, we expect significant performance growth in the overseas travel sector."

Tagogayo is a vehicle brokerage platform that recently partnered with over 30,000 commercial call vans, taxis, and rental cars nationwide, including Incheon Airport, to operate the 'van vehicle rental car ride-sharing service (Airport Van)' business at airports across the country.

Tagogayo uses a reverse auction method where customers input ride date and time, departure and destination, number of passengers, and other information directly into the platform, and drivers propose conditions and prices, allowing customers to select their driver.

Tagogayo plans to expand its market by offering differentiated customer value through various linked services such as hospital accompaniment, weddings, golf, and military leave, aiming to provide customer-centered mobility convenience beyond the existing airport van service. Currently, Tagogayo's platform handles about 1,000 transactions per month, with 405 registered vehicles in partnership. Through this follow-up investment, the company plans to expand its partnered vehicles to 2,000 by the end of next year.

Since launching its service early last year, Tagogayo's 'customer-tailored mobility reservation service' has achieved significant results by securing about 12,000 individual members and 192 corporate members within a year, despite adverse conditions such as outing restrictions and decreased consumer sentiment due to COVID-19. Currently, Tagogayo operates with a supply network of 250 vehicles in the metropolitan area and 405 nationwide.

Choi Soon-sung, CEO of Tagogayo, said, "Unlike existing supplier-centered domestic car-hailing services, Tagogayo guarantees customers' priority choice through a 'van vehicle comparison reservation service' that allows consumers to compare fares, vehicle types, and reviews and select directly."

This content was produced with the assistance of AI translation services.