In today’s fast-changing mobility landscape, one company is making waves by rethinking how people experience, buy, and manage their cars. RIDE, led by founder and CEO Lee Min-cheol, is building a seamless platform that combines test drives, car purchases, and after-sales care—all with a digital-first approach. Fresh off a successful Series A funding round, we spoke with Lee to learn more about his journey, what drives RIDE’s vision, and where the company is headed next.

Q. What inspired you to start RIDE?

RIDE was founded out of a deep concern that the car-buying experience had become overly complex and fragmented in Korea. Working in the automotive industry, I kept hearing the same request from people looking to buy a car: “Can you recommend a good dealer?”

Every time I heard that, I asked myself—what makes a dealer “good”? Why does one person have such a decisive influence over the entire purchase experience?

It made me realize that the automotive distribution system remains heavily supplier centric. The market still suffers from information asymmetry, lack of price transparency, and vast inconsistencies in customer experience.

RIDE was born by clearly defining that problem and pursuing a new goal: to redesign the purchase experience in a way that is transparent, seamless, and aligned with how customers actually want to buy cars.

Despite being a high-involvement product, car purchases still vary wildly depending on which dealer or channel a customer interacts with. That leads to confusion, distrust, and inconvenience. Brands lead the marketing, dealers handle consultations, and financial institutions offer payment terms—all of which results in fragmented customer journeys across multiple channels.

At RIDE, we aimed to solve this by integrating the entire process—from vehicle search and test drive to financing, contracting, delivery, and post-purchase care—into a single, coherent flow. At the heart of that journey is always the customer experience.

By organically connecting our online platform (RIDE NOW) with offline test drive centers, we’ve built an environment where customers can search, compare, and make decisions in the way that suits them best.

Ultimately, RIDE’s mission is to shift the paradigm from supplier-led to customer-driven—and to establish a new standard for a consistent and trustworthy car-buying experience. Challenging what was once taken for granted—that’s where our journey began.

Q. How has RIDE changed since you first started?

When we first introduced the idea of a test drive-focused service, the reaction from inside and outside the industry was largely skeptical.

People would say, “Why would anyone pay to test drive a car when you can do it for free at a showroom?” But that question itself pointed us toward an insight: customers don’t want to “just” test drive a car—they want to do so on their “own terms”, at their preferred time and place, without pressure, and with enough time to make an informed decision.

Cars are one of the most expensive assets people purchase in their lifetime. Yet the “experience” element has often been treated as secondary. Traditional purchase processes are still largely dealer-led, with limited transparency and flexibility. We saw a clear opportunity to restructure this around the customer.

And the market responded. Through our data analysis, we saw a growing number of customers wanting to fully experience, compare, and buy cars—all in one seamless process. That told us this wasn’t just about test drives anymore—it was about transforming the entire car retail experience.

That’s why RIDE has evolved into a fully integrated, customer-first platform. Today, we cover everything from vehicle comparison and price checking to financing, contracting, delivery, and maintenance.

We’re also expanding beyond B2C into B2B by strengthening partnerships with automakers and improving distribution efficiency through collaboration.

We firmly believe that when there’s a clear consumer need, the market will follow. RIDE is here to lead that change.

Q. What do you think makes RIDE different from other car platforms?/Can you tell us more about the AI-powered vehicle recommendation system?

What fundamentally distinguishes RIDE from other car platforms is that we didn’t start with the question “How can we sell more?” but instead asked “How can customers buy better?”

Most mobility platforms focus on high-commission rental and lease transactions. Meanwhile, customers who prefer to buy with cash or financing often have their personal information sold to dealers through back-end channels—without any transparency. This exposes them to unclear deals and unnecessary risks.

RIDE chose a different path. We didn’t build our process around sellers or platforms—we built it around the customer.

Customers today evaluate far more than just specs. They think about how a vehicle fits their lifestyle, how much it costs to maintain, and how easy it is to manage. That’s why we designed RIDE as a complete, consumer-first platform—beginning with the test drive, and extending through to vehicle comparison, price estimates, financing, contracting, delivery, and after-sales care.

This customer-first philosophy is deeply reflected in our tech development as well. We’re currently building an AI-powered vehicle recommendation engine that goes beyond listing features. It draws on a wide range of user data—budget, driving patterns, intended use, geographic region—to explain why a specific car might be a good fit for that individual.

Ultimately, RIDE aims to help consumers make confident, informed choices based on transparent and relevant information. Technology is simply the tool—what matters most is putting the customer at the center.

Q. How did you feel when you secured your latest investment? What do you believe convinced investors to back RIDE despite the market downturn?

There were three main reasons why investors strongly backed RIDE in our most recent funding round.

First, we weren’t just running a service—we had accumulated meaningful, real-world customer data through our test drive model. That allowed us to deeply understand what consumers truly wanted.

Second, we restructured the traditional seller-driven model of automotive retail into a customer-centric one. Whereas people once relied on dealer recommendations, today’s digital consumers want to explore options, compare them, and make their own decisions. We redesigned our entire platform around that shift in behavior.

Third, we’ve already proven that this approach works through actual sales, particularly via strategic partnerships with brands like KGM and Polestar. We weren’t just pitching a vision—we demonstrated a viable revenue model and a clear growth trajectory.

In a cautious market, what investors ultimately looked for was execution and proven scalability. Many of them echoed the same sentiment: “Today’s digital consumers expect transparency and logic in every purchase decision. We’re already seeing that in fashion, electronics, and travel. The auto industry is next.”

RIDE is perfectly aligned with that change. We offer the structure and experience that today’s consumers demand. In just four years, we’ve shown both strong revenue growth and meaningful evolution in our service—and we’ve proven that we’re capable of solving structural problems in the automotive sector.

Q. What new features or services are you planning to launch next?

We’re currently working on integrating our three core services—RIDE NOW (test drives), RIDE CARE (vehicle maintenance), and RIDE CONTENTS (education and consulting for consumers and brands)—into a single super app.

Until now, customers had to jump between multiple platforms to complete one purchase journey: search and test drives on Platform A, price and contracts on Platform B, and maintenance via yet another provider. That fragmented process created unnecessary complexity.

Our goal is to consolidate this into one app, where customers can explore vehicles, book test drives, receive quotes, sign contracts, and manage ongoing maintenance—all in a single, seamless experience.

We’re also rapidly expanding into new product categories such as electric vehicles, used cars, and subscription models in response to evolving consumer demand. In addition, we’re integrating with external services like insurance, financing, and repair to create a more robust and personalized ownership experience.

Ultimately, we’re not building an app to help you buy a car—we’re building a platform that supports every moment of living with one. And that platform is evolving every day.

Q. As customer expectations shift in the digital age, what are some unique insights you’ve gained from your users?

These days, the car-buying journey almost always begins online. Customers start by gathering information from YouTube, online communities, and price comparison sites. Only at the final stage do they request a test drive.

This means that offline test drives are no longer the starting point for exploration—they now serve as the final validation step before making a decision.

While contract methods still vary, the key point is that the entire process now unfolds on a digital foundation. The decisive customer touchpoint is no longer the dealership—it’s the digital experience.

In practice, customers trust platforms with better UX over brand names. They explore, compare, and make decisions within platforms that offer clarity and consistency.

To reflect this shift, RIDE has seamlessly integrated our online platform (RIDE NOW) with offline, multi-brand test drive centers. This allows users to search for a car in the app and transition directly to a test drive—eliminating friction and enhancing continuity.

Moving forward, the key to automotive retail won’t be what you’re selling but how customers experience the journey to their purchase. From research and comparison to validation and contracting, the entire flow is now digital. At RIDE, we’re designing that journey to be fully customer-centric—where buyers aren’t passive recipients but active, empowered decision-makers.

Q. You’ve signed agreements with big names like KGM and Polestar Korea. How are these partnerships helping you scale?

Our strategic partnerships with KGM and Polestar are helping RIDE scale both in terms of reach and credibility.

With Polestar, we secured exclusive rights to its B2B lease and rental distribution channel in Korea—meaning these vehicles are only available for purchase through RIDE.

With KGM, we took a pioneering step by signing the industry’s first direct vehicle purchase agreement with a domestic automaker. In addition to operating customer-focused Experience Centers, RIDE purchases vehicles directly from KGM and sells them online to consumers.

This model represents a fundamental shift toward a truly consumer-centric distribution structure. These partnerships are more than just marketing collaborations—they function as real, high-performance sales channels and form a key pillar of our platform-based revenue strategy.

Q. You mentioned plans to go public by 2027. What are the key milestones you need to hit before IPO?

RIDE has set three key milestones ahead of its 2027 IPO goal.

First, we aim to scale our revenue to KRW 350 billion annually. We’ve already secured steady B2B demand through our test drive services, and we’re now expanding customer acquisition on the B2C side and strengthening our direct monetization models.

Second, we’re completing the development of our super app platform. We’re integrating RIDE NOW (test drives), RIDE CARE (vehicle maintenance), and RIDE CONTENTS (education/consulting) into a single ecosystem—so users can manage every step of the ownership journey within one app. This enables higher retention and greater operational efficiency through data accumulation.

Third, we’re preparing for global expansion. We’re evaluating test markets in Asia and developing localization strategies that replicate our proven online-offline model in other countries.

At the core of all is a consistent customer experience. What sets RIDE apart is our ability to build trust throughout the full journey—from browsing and comparison to purchase and beyond.

Our offline multi-brand test drive centers are a key example. They allow customers to compare different brands in one place, bridging the gap between digital interest and physical experience. These centers are fully synchronized with our RIDE NOW app to provide a seamless omnichannel experience.

After the test drive, we match each customer with tailored financial products. Post-purchase, we manage ongoing care. By combining the convenience of online with the trust of offline, RIDE is building a new standard in car retail—and laying the foundation for IPO.

Q. What advice do you have for someone starting a mobility or tech startup?

In the early stages of a startup, clearly defining the problem is more important than any specific technology. If your problem statement is vague, even the most advanced technology won’t lead you in the right direction.

RIDE began with a clearly defined issue: the inefficiency of the test drive experience. Once we pinpointed the problem, we quickly launched real customer touchpoints and relentlessly validated and improved based on user data.

There’s no such thing as a perfect solution from the start. What matters is fast execution and building a structured feedback loop based on actual customer behavior.

Stay laser-focused on the core issue. Observe how customers respond—with intensity and humility. That’s how you find product-market fit and build long-term sustainability.

Q. What’s your strategy for scaling beyond Korea, and do you see RIDE becoming a global mobility player?

We’re preparing for global expansion with a focus on Southeast Asia and China—markets where demand for contactless car transactions is rising rapidly and where RIDE’s integrated model for test driving, purchasing, and maintenance can be applied seamlessly.

In November 2023, we signed an MOU with Faraday Future to secure exclusive distribution rights in Asia—an important step in deepening our collaboration with global OEMs.

Our global strategy isn’t just about exporting our services. We’re also establishing local partnerships and adapting our platform to comply with regional regulations.

We’re localizing our test drive service in the form of consulting solutions, helping global brands enter the Korean market, and expanding our B2B education content into multiple languages.

Ultimately, RIDE’s vision is to become a global case study in transforming inefficient car retail systems into tech-driven, consumer-first platforms. While respecting each country’s unique car-buying culture, we aim to deliver a locally optimized but globally consistent customer experience.

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