Backpacker, Operator of 'Idus', Raises 20 Billion KRW in Series C Funding

Axiom Asia, Vanderbilt, Altos Ventures, Stonebridge Ventures Participate
Achieved Monthly Breakeven Since July Last Year, Improving Performance

[Asia Economy Reporter Kim Cheol-hyun] Backpacker (CEO Kim Dong-hwan), which operates the handmade market platform 'Idus' and the crowdfunding platform 'Tumblbug,' announced on the 10th that it has secured a total of 20 billion KRW in Series C investment from domestic and international venture capital firms and institutions.

This investment involved global investors such as Axiom Asia Private Capital based in Singapore and Vanderbilt University, as well as existing shareholders including Altos Ventures and Stonebridge Ventures.

Backpacker plans to focus investments on ▲ sequential overseas market expansion of Idus to Southeast Asia, Japan, and the United States ▲ infrastructure expansion and service advancement for the businesses and personnel of Idus and Tumblbug ▲ improving the environment for artists and creators.

Celebrating their 8th and 11th anniversaries respectively, Idus and Tumblbug have led innovation in the creator market. Through efforts to establish a healthy growth structure based on profitability, they have been achieving monthly break-even results since July last year.

As a result, the cumulative transaction volume of Idus and Tumblbug has surpassed 1 trillion KRW, with 35,000 handmade artists and 26,000 creators active on the two platforms.

Kim Dong-hwan, CEO of Backpacker, said, "Based on our market competitiveness, we will build a creator ecosystem and enable creators to provide customers with the emotional value of 'the uniqueness of the world.' We will focus on establishing a foundation for K-creators to meet potential customers worldwide and gain competitiveness in the global market."

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