This article appeared on the ChosunBiz MoneyMove (MM) site at 4:26 p.m. on Jan. 22, 2026.
Openmile, an information technology (IT)-based mobility integrated management solution company, has secured a new 5 billion won investment from venture capital (VC). The funding is to expand its footprint before an initial public offering (IPO), and Openmile is understood to have already begun work to acquire control of a rental car sales and replacement brokerage platform.
According to the VC industry on the 22nd, Openmile recently issued convertible bonds (CBs) worth 5 billion won to the Honest-Shinyoung Pace Maker Investment Association. The Honest-Shinyoung Pace Maker Investment Association is a venture investment fund formed by Honest Ventures and Shinyoung Securities and was established in Dec. 2021.
The company was valued at about 85 billion won on a post-money basis. As a pre-IPO fundraising, Openmile reportedly promised Honest Ventures to achieve consolidated operating profit of at least 6.5 billion won this year and to pursue an IPO next year.
Openmile is a company that provides integrated vehicle management services based on IT technology and was founded in 2011. It began under the name Road Win Human, specializing in initial vehicle delivery, and expanded its business into used car sales and subscription-based commercial vehicle management services. It recorded sales of 44.4 billion won and an operating loss of 3.1 billion won in 2024.
Openmile plans to use the funds secured from Honest Ventures to pursue the acquisition of the operator of a rental car sales and replacement brokerage platform. The total acquisition amount is expected to be around 4 billion won, and the funds raised through the investment will reportedly be used first to finance the acquisition.
Analysts say Openmile has stepped up efforts to expand its size before listing. It already selected Shinyoung Securities as its lead manager in 2021 and aimed to list in 2022, but delayed the IPO due to weak performance. Openmile turned to a loss in 2021 and posted losses for four consecutive years through 2024.
Openmile plans to shift its existing delivery-centered business to vehicle maintenance and vehicle sales. In 2024 it acquired AJ Maintenance Partners, a vehicle maintenance specialist of AJ Networks, laying the groundwork for maintenance. If it acquires the rental car sales platform, it will be able to secure both rental car maintenance and sales capabilities.
A securities industry official said, "Openmile is strongly committed to improving profitability to the extent that it set a milestone of achieving 6.5 billion won in operating profit in this fundraising," and added, "The success of expanding the rental car sales business through M&A is likely to be a key indicator that will determine whether it lists in the future."