CarMoa receives strategic investment from Klook

Car rental price comparison app KAMOA announced on the 28th that it had secured a strategic investment from Klook, a global independent travel platform. The investment amount was not disclosed.

The investment aims to establish a strategic partnership as KAMOA expands overseas in the post-pandemic era. The companies plan to use their global networks to provide car rental bookings, jointly develop mobility technologies such as fleet management and car sharing, and enhance their services and technology.

KAMOA offers car rental bookings through Klook, focusing on major destinations in South Korea, including Jeju Island. Building on the trust they have developed as business partners, the companies decided to strengthen their partnership overseas as well.

KAMOA has actively pursued overseas expansion by working with local companies. It was the first South Korean car rental platform to partner with Korean-owned rental companies in Saipan and Guam and launch booking services in both destinations. Klook has also focused on car rental services in Asia, acquiring Huizuche, China’s third-largest car rental platform. With this investment as a starting point, the companies expect to build global competitiveness early in preparation for a recovery in travel demand after the end of the COVID-19 pandemic.

“By bringing together a wide range of technological capabilities, KAMOA has established itself as South Korea’s leading car rental price comparison platform. Through our partnership with Klook, we plan to offer more customers car rental booking services tailored to their needs,” said KAMOA Vice President Seong-geun Kang. “We expect this investment to help us firmly establish a leading position as a global, integrated mobility platform.”

“Through technology collaboration with KAMOA, Klook has provided real-time information on domestic car rentals and improved convenience for customers with features such as instant booking confirmation. With this investment, we will strengthen our technology capabilities to provide a more customer-friendly online car rental booking experience in the post-pandemic era,” said Lee Jun-ho, head of Klook’s South Korea office. “Klook will continue to work with startups in South Korea and abroad, such as KAMOA, that can help drive the digital transformation of the travel industry.”