4050 Women's Fashion App 'Queenit' Secures 34 Billion KRW Investment
Operating Company Rapolabs Secures Series B2 Funding
Additional Investment Following 36 Billion KRW in February Last Year... Total Investment Reaches 70 Billion KRW
Queenit Surpasses 5.4 Million Cumulative Downloads 34 Months After Launch
Rapolabs, the operator of the mobile fashion platform for women in their 40s and 50s, 'Queenit,' announced on the 31st that it has secured a total of 34 billion KRW in its B2 round of investment. This round was led by Altos Ventures as an extension of the Series B investment from February last year, with existing investors Kakao Ventures and Atinum Investment participating. Queenithas been recognized for its growth potential by achieving a cumulative investment of 70 billion KRW within 34 months of its launch.
Launched in September 2020, Queenit is a fashion app for women in their 40s and 50s, boasting over 1,300 partner brands and achieving 5.4 million cumulative downloads. Notably, it has recorded monthly profits since March this year, establishing itself as a leading company in the 4050 fashion market. Queenit is characterized by offering only high-quality brands and products optimized for the sizes of women in their 40s and 50s, providing customers with a convenient shopping environment.
Through this investment, Queenit plans to actively execute marketing strategies such as supporting partner brand promotions, discovering designer brands, expanding new categories, developing AI-based recommendation services, and TV commercials. Additionally, it will conduct large-scale recruitment to secure outstanding talent.
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Choi Heemin, co-CEO of Rapolabs, said, "The Rapolabs team has proven through previous investments and the growth of our services that the mobile fashion market for women in their 40s and 50s is sufficiently attractive," adding, "As this market is now entering a phase of full-scale growth, we plan to expand our business more aggressively and proactively."
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