Ballan Secures 25 Billion KRW Series C Funding

Shinhan Capital, Company K Partners, Daol Investment Participate
Building Value Chain to Strengthen Business Growth Engine

[Asia Economy Reporter Kwangho Lee] Online luxury platform Ballan announced on the 16th that it has successfully raised 25 billion KRW in a Series C funding round.

This investment round included participation from Shinhan Capital, Company K Partners, and Daol Investment, who contributed 20 billion KRW. Additionally, two investors are expected to inject another 5 billion KRW by the end of this month.

Despite challenging market conditions, the Series C round totaling 25 billion KRW was completed smoothly. This recent round marks the largest investment raised in the industry. With the completion of the Series C funding, Ballan’s cumulative investment amount has reached 73.5 billion KRW.

Ballan achieved a transaction volume of 381.2 billion KRW in the first half of this year, representing a 400% growth compared to the previous year. The number of members has also surpassed 2.25 million, a fivefold increase year-over-year, demonstrating rapid growth in the luxury platform market.

With this investment secured, Ballan is expected to strengthen its solid business expansion. Given the stringent investment market, the company plans to revise its business expansion strategies such as mergers and acquisitions (M&A) and aims to prove Ballan’s intrinsic value through profitability turnaround in the fourth quarter, thereby continuously enhancing investment value.

This year, Ballan launched several services including the golf specialty store, fast delivery service ‘Ballan Express’, ‘product price comparison feature’, and ‘Ballan Care’. At the end of July, it also introduced ‘Connected Retail’ at its Yeouido IFC store, providing customers with a differentiated luxury shopping experience.

Ballan plans to surpass an annual transaction volume of 1 trillion KRW and achieve net profit positivity in 2022 by improving its business profit structure and diversifying product categories in line with the domestic market atmosphere within the year. To expand its position in luxury commerce, Ballan will enhance customer services by expanding the Ballan Express delivery area and launching a gifting service, and strengthen B2B services by introducing a B2B marketplace business solution that combines supply chain finance and IT services.

Choi Hyung-rok, CEO of Ballan, stated, “Despite the overall difficult market conditions, Ballan’s service technology and growth value were highly evaluated, enabling us to successfully secure this Series C investment. We plan to use the investment funds to strengthen our position as a luxury platform, build a value chain to reinforce business growth drivers, and create new revenue sources and value.”

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