What Socar Malaysia does

SOCAR Malaysia is a mobile app-based car-sharing platform operating a fleet of more than 2,000 vehicles across over 1,000 designated SOCAR Zones in Malaysia, including 25-plus MRT and LRT stations in the Klang Valley. The company, legally SOCAR Mobility Malaysia Sdn. Bhd., was launched in Malaysia in January 2018 as the Southeast Asian beachhead of the South Korean SOCAR parent (founded in 2011) and has since expanded to Selangor, Penang, Johor, Ipoh, Sabah, Putrajaya, and Melaka. Its product surface spans the consumer SOCAR App with hourly, daily, weekly, and monthly rentals starting at RM6 per hour, the SOCAR-2-YOU car delivery add-on, free-floating zones in Penang, one-way intercity rentals, the SOCAR+ chauffeur service, and a SOCAR Rewards loyalty program. On the B2B side, BOSS by SOCAR offers all-inclusive corporate fleet subscriptions ranging from RM1,113 to RM7,900 per month over 2-5 year tenures, and SOCAR Business Mobility delivers customized managed transport and delivery solutions to enterprises. Distribution is primarily self-serve through the iOS and Android apps, with a content-driven blog, seasonal promotional campaigns, referral bonuses, and GrabPay payment integration supporting consumer acquisition.

The business model combines usage-based consumer rentals with recurring B2B subscriptions, diversified across four primary customer segments: urban individual consumers seeking flexibility without car ownership, corporate clients replacing or supplementing owned fleets, tourists and visitors needing flexible intercity transport, and daily commuters using the Commute Pass at MRT/LRT stations. Revenue is generated per booking, per subscription period, and through managed service contracts, with pricing tiered across Compact, MPV, SUV, Sedan, 4x4, and Luxury vehicle categories. The company is privately held, has raised approximately USD 73 million across 2020 and 2021 funding rounds led by strategic investors Sime Darby Berhad and EastBridge Partners, and employs between 101 and 250 people. SOCAR Malaysia operates as a private limited company in Malaysia and reports through the SK Inc. ethics channel, indicating ongoing parent oversight from the South Korean group.

Name

Socar Malaysia

Legal name

SOCAR Mobility Malaysia Sdn. Bhd.

Website

https://socar.my

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

SOCAR Malaysia operates a mobile app-based car-sharing platform with 2,000+ vehicles and 1,000+ zones across Malaysia, offering hourly-to-monthly self-drive rentals to urban consumers and B2B corporate fleet subscriptions through its BOSS by SOCAR sub-brand.

Ownership category

akta.pro rank

Product category

Car Sharing Services

NAICS

Passenger Car Rental (532111), Passenger Car Leasing (532112), Automotive Equipment Rental and Leasing (5321)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

Mobility-as-a-Service / Car Sharing & Pool Fleet (Passenger Vehicles) (TLABAAAI)

akta.pro secondary industries

Car Rental & Car-Sharing Booking Platforms (BPAMAIAF), Long-Term / Fixed-Term Car Subscriptions (6–36 months) (THADACAD), All-Inclusive Subscriptions (Insurance, Maintenance, Roadside, Registration) (THADACAE)

Keywords

• Car sharing platform
• Mobile car rental
• Corporate fleet leasing
• Hourly vehicle rental
• Mobility as a service

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Hourly/Daily/Weekly Car Rental: Core usage-based revenue stream where customers pay per hour, day, week, or month to rent vehicles from the SOCAR fleet. Pricing starts from RM6/hour for budget vehicles. Revenue is consumption-based with no minimum commitment.
2. BOSS Corporate Fleet Subscription: Monthly subscription-based fleet service for businesses providing dedicated vehicles with all-inclusive pricing (maintenance, road tax, insurance). Targets corporate clients with needs for sales teams, operations, or executive transport. Tenure options from 2-5 years.
3. Business Mobility Solutions: Customized fleet solutions for businesses including delivery, service providing, goods transport, and staff transport. Pricing varies by car model and requirements.
4. Referral and Promotional Programs: Referral bonuses where existing users earn RM50 credit or RM100 cash for successful referrals. Promotional pricing during seasonal campaigns (CNY, Hari Raya, Merdeka).

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Socar Malaysia provides app-based car-sharing and rental services, allowing users to book vehicles on an hourly, daily, weekly, or monthly basis from a fleet of 2,000+ vehicles across 1,000+ SOCAR Zones in Malaysia. The service includes self-drive rentals, door-to-door delivery (SOCAR-2-YOU), one-way intercity trips, chauffeur service (SOCAR+), and dedicated corporate fleet subscriptions (BOSS by SOCAR) for businesses.

Product overview

SOCAR is a car-sharing platform that operates as a mobile app-based service, allowing users to rent vehicles on-demand by the hour, day, week, or month. The core product is the SOCAR App which enables vehicle discovery, booking, unlock, and payment. The platform offers multiple service modes including Roundtrip (standard return-to-origin rentals), SOCAR-2-YOU (door-to-door delivery), Oneway Intercity (one-way intercity rentals), and SOCAR+ (chauffeur service). The portfolio includes BOSS by SOCAR as a dedicated corporate mobility sub-brand offering long-term leasing with all-inclusive fleet management for businesses, and SOCAR Business Mobility for custom business transport solutions. A Commute Pass provides discounted weekday access for regular commuters. The platform serves consumers across Malaysia with vehicles available at 1,000+ zones including MRT/LRT stations, and operates fleet sizes ranging from initial 240 cars at launch to 2,000+ vehicles currently.

Differentiator

Problem solved

Functional benefit

Brands

• BOSS by SOCAR: Corporate mobility solution offering fleet management and business transportation services. BOSS provides new cars for corporate use with options for Compact, MPV, SUV, Sedan, 4x4, and Luxury categories with all-inclusive pricing covering maintenance, road tax, and insurance.
• SOCAR Business Mobility
• SOCAR-2-YOU
• SOCAR+

Products and services

• Roundtrip Car Rental Standard car rental service where users pick up a car from a SOCAR zone and return it to the same zone upon completion. Targets individual consumers, tourists, and corporate users across Malaysia.
• SOCAR-2-YOU Delivery Service
• Oneway Intercity Rental One-way rental service allowing users to pick up a car in one city and return it in a different city, enabling flexible intercity travel across Malaysia.
• SOCAR+ Chauffeur Service Chauffeur service providing professional drivers to drive users to their destination, complementing the self-drive car sharing option.
• BOSS by SOCAR Corporate Fleet Leasing Corporate mobility solution providing businesses with long-term car leasing options, all-inclusive fleet management (new cars, maintenance, road tax, insurance) and optional chauffeur services across vehicle categories (Compact, MPV, SUV, Sedan, 4x4, Luxury) with 2-5 year tenure options.
• SOCAR Business Mobility Transport and delivery solution for businesses offering customizable fleet solutions for delivery, service providing, goods transport, and staff transport needs.
• Commute Pass Commuter-focused pass offering 75% discount on weekday drives from 6pm-9am, enabling cost-effective daily commute alternatives using SOCAR vehicles from MRT/LRT stations.
• SOCAR Rewards Loyalty Program Loyalty program rewarding users with credits and benefits for bookings and referrals.

Quantifiable outcome

• Starting price RM6/hour for budget-friendly car rental
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Three partnerships are on record, tiered strategic and minor.

• MyDigital IDstrategicStrategic or Co-development Partner · 30 April 2026SOCAR signed MoU with MyDigital ID as part of Malaysia's national digital identity ecosystem expansion. MyDigital ID serves as the foundation for secure online identity verification, expanding beyond financial sector into government services, education, welfare, and digital platforms. SOCAR is among 29 organizations in this initiative.
• GrabRewardsminorGTM or Marketing Partner · 6 December 2019Partnership with GrabRewards allowing SOCAR members to earn 500 GrabRewards Points when using GrabPay for first SOCAR booking. First-time users need minimum 3-hour booking; existing users need minimum RM50 booking.
• CarsomeminorGTM or Marketing Partner · 8 May 2019Collaboration with Carsome allowing members who sell their used cars through Carsome to enjoy special discounts on SOCAR services.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• GoCar Malaysia: Malaysia-based car-sharing platform operating a similar self-serve app-based model with hourly rentals and zone-based pickups. Direct in-market competitor to SOCAR's consumer offering.
• SOCAR (South Korea): Parent company and original SOCAR platform founded in 2011 in Jeju, Korea. Operates the same car-sharing playbook (app-based, zone-based, hourly rentals) at much larger scale in Korea — directly comparable product and model.
• Zipcar: Global pioneer of app-based car-sharing with zone-based returns and hourly rentals. Highly comparable business model, though operating primarily in North America/UK and serving university and urban markets.
• Kinto Share: Toyota-backed car-sharing service in Japan offering app-based hourly rentals and subscription-style access. Comparable OEM-tied mobility platform with strong B2C and B2B fleet offerings.
• Getaround: Peer-to-peer car-sharing platform with app-based booking and Connect in-car telematics for keyless access. Direct competitor in the car-sharing category with comparable technology and target market.
• Turo: Largest peer-to-peer car-sharing marketplace globally with app-based booking, telematics-enabled access, and a wide vehicle selection. Comparable platform model though P2P rather than fleet-owned.

Regional players

• Drive lah: Singapore-based peer-to-peer and fleet car-sharing platform with comparable hourly rentals and app-based booking. Adjacent Southeast Asian geography with similar urban-car-ownership thesis.

Broad incumbents

• Grab: Southeast Asian super-app offering ride-hailing, deliveries, and financial services with a much larger user base in Malaysia. Competes for short-trip mobility demand and offers GrabPay integration referenced by SOCAR's own referral program.
• Europcar Malaysia: Established international car-rental brand operating in Malaysia with airport-based and traditional daily/weekly rentals. Competes in the same rental category though via different distribution model.
• Avis Malaysia: Global car-rental incumbent with Malaysian operations focused on airport and corporate rentals. Overlaps with SOCAR's corporate mobility segment and intercity use cases.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/socarmalaysia
• LinkedInlinkedin.com/company/socarmy

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Socar Malaysia