[Article] Mezznine Financing from ‘Korea SEMs and Startups Agency’

Choi Young-seok, founder and chief strategy officer (CSO) of the owner who provides EV integration services related to charging electric vehicles

There is a company that lead charging platforms for electric vehicles. He is a person who gained fame as the first regulation sandbox. It is the only South Korean company that operates integrated electric vehicle charging control, integrated charging system, charging sharing service, and charging infrastructure and provides EV integrated services. In particular, all services related to charging such as fast charging services, slow charging services, and charging outlet sales are being built as platforms.
The founder is Choi Young-seok, chief strategy officer (CSO) who is currently in charge of the business. He is a race car engine electronic control, develop diagnostic and control module for vehicle and driving data analysts as a motor vehicle engineers.

While using an electric car in 2014, he experienced problems and complaints about the charging service firsthand and jumped in to build a charging platform with four employees in Daegu, the leading city of electric vehicles. In particular, the development of charging-type outlets was selected as the №1 regulated sandbox company and became an opportunity to be recognized for its differentiated technology.

Charging-type outlets that can charge electric vehicles using regular 220V outlets are easier to install in offices and apartment complexes in the city than conventional fast and fast chargers. Enter the smart phones and Bluetooth has to work with Applications for charging fees, charging begins. Blockchain-based separate charging method electric vehicle drivers can pay the fare as much as they charge.

The area that the tenant is focusing on recently is the establishment of a charger roaming system. A Chargers run by the operator roaming is a variety of electric vehicle charging its charger is to work and the integration of the operating system in areas that are not allied to a third party chargers.Member means to ensure that they can charge. The tenant has endured for three years since his start-up, with acquaintances who acknowledged his technology and vision providing funds to the general public, but the crisis has come as early as 2019 when he began commercializing charging outlets. The funds were exhausted and the number of families to take care of increased. Death Valley is here. I had to suffer from financial pressure.

Fortunately, it succeeded in attracting investment from mid-sized companies and received growth-sharing funds last year in recognition of its technology and business feasibility from the Small and Medium Venture Business Promotion Corporation. The growth-sharing funds of the company are representative Mezzanine Financing, which supports by acquiring convertible bonds (CB) and repayment convertible preferred stocks (RCPS) issued by small and medium-sized venture companies with high technology and future growth.

Last year, the company provided 102.6 billion won to 102 companies including the owners.

CSO Choi Young-seok said, “We were able to reduce concerns about operating funds and develop business capabilities through support for medium-sized growth-sharing funds, while at the same time improving external credibility of the company.”

Original Source : https://news.v.daum.net/v/cTRUpaedJt