Apartmentary Completes Finalization of 45 Billion KRW Series C Funding Round

[Asia Economy Reporter Park Soyeon] Interior service innovation startup ApartMentary has secured an additional investment of 15 billion KRW, completing its Series C funding round with a total of 45 billion KRW.

According to the investment banking (IB) industry on the 15th, the recent additional investment in ApartMentary involved Samchully Asset Management and Nepstone Holdings. Following the participation of Leverant Partners, Shinhan Financial Group, Korea Development Bank, Korea Investment & Securities, and Daol Investment in the Series C round in May, the cumulative investment amount has reached 58 billion KRW.

Despite the industry facing temporary difficulties due to a sharp decline in housing transactions and rising material costs, ApartMentary has demonstrated stable growth, with remodeling contract amounts from January to August this year increasing by 330% compared to the same period last year. Considering the current interior remodeling contract volumes, it is expected to achieve the highest quarterly sales in the second half of this year.

ApartMentary plans to use most of the newly secured funds to strengthen its leadership in the industry. The company will focus on enhancing its strengths in design and material quality, developing IT systems to advance its services, and actively expanding market share through mergers and acquisitions and strategic investments in response to rapidly changing market conditions.

Yoon Soyeon and Kim Junyoung, co-CEOs of ApartMentary, stated, "This investment will be used to strengthen internal capabilities to provide customer-centric interior remodeling services stably under the company's core value of transparent innovation, and to enhance business competitiveness through external investments and acquisitions. In particular, we plan to actively expand our home furnishing PB brand and material PB brand businesses to increase customer touchpoints, and further establish leadership as a K-living brand through global expansion including Singapore."

Lee Changseok, Vice President of Samchully Asset Management, said, "ApartMentary is an innovative company that has developed advanced interior remodeling services and products based on customer experience big data, and is leading industrial paradigm shifts through digital transformation technologies such as price and contract standardization, process improvement, and introduction of financial products. We invested because we judged it to be a company with great growth potential led by capable management that can realize various expansive businesses across residential culture."

Founded in 2016, ApartMentary has innovated the market by introducing the industry's first fixed-price system for interior services called the Price Tag System and establishing modular interior services based on trust. It leads the product-type interior construction market through systematic and standardized high-quality services and products, driving continuous growth. Recently, the company has focused on increasing consumer touchpoints by opening its 4th and 5th offline direct stores, SPOKE.

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