Mobile Secondhand Market 'Bungaejangter' Secures 56 Billion KRW in New Investment

Focusing on Service Advancement and Marketing... Planning to Recruit Talent in Various Fields

[Asia Economy Reporter Kim Cheol-hyun] Mobile secondhand marketplace Bungaejangter (CEO Lee Jae-hoo) announced on the 19th that it has secured new investments worth 56 billion KRW. This investment round included participation from BRV Capital Management, Base Investment-STL Partners, Mirae Asset Venture Investment, Mirae Asset Capital, and Timewise Investment.

Investors focused on Bungaejangter's transaction volume and high growth potential. Last year, Bungaejangter surpassed an annual transaction volume of 1 trillion KRW for the first time in its history, and in December last year, it exceeded a monthly transaction volume of 100 billion KRW as well as 10 billion KRW in monthly transactions through its own secure payment service, Bungae Pay. Additionally, by diversifying revenue models such as advertising products and secure payments, it has generated operating profits for three consecutive years, proving the profitability potential of the secondhand trading market.

Based on this investment, Bungaejangter plans to focus on investing in technical personnel, marketing, and nurturing super sellers. Its ambition is to establish itself as an "attractive resale market that satisfies even the most detailed individual tastes." Lee Jae-hoo, CEO of Bungaejangter, stated, "If the consumer trend of purchasing for one's own tastes, values, and satisfaction spreads in earnest, the peer-to-peer market including secondhand trading will definitely grow significantly. Bungaejangter, as a pioneer, will lead these changes and focus on creating the best user experience so that users can discover the most attractive secondhand products more easily than anyone else and trade them the fastest and most comfortably."

This content was produced with the assistance of AI translation services.