UAE VC Shorooq Invests $10.3M in South Korean Automotive Fintech Chazm
The Abu Dhabi firm backed a platform focused on managing the full lifecycle of leased vehicles.
Abu Dhabi-based Shorooq has invested $10.3 million in South Korean automotive fintech Chazm, a company that builds digital infrastructure to manage the full lifecycle of leased and rented vehicles.
Chazm’s platform covers everything from contract origination and usage tracking to return, resale and redistribution, aiming to standardise vehicle management and introduce more transparency into the financing process.
The round was led by Stonebridge, with participation from KB Investment, Futureplay, Zero1NE Ventures and LX Ventures.
The company reports more than 300,000 users and over $80 million in cumulative transaction volume, positioning vehicles as structured financial products that can be tracked and compared across institutions.
Following the investment, Chazm is targeting expansion into Japan and the Middle East as part of its next growth phase.
