Vroong Secures Additional 10 Billion KRW Investment Led by Shinhan Investment Corp.

Secured a Total of 40 Billion KRW in External Investments This Year Alone, Following a 30 Billion KRW Investment in March

Vroong, a delivery agency platform, announced on September 2 that it has secured an additional investment of 10 billion KRW (approximately 100 billion KRW in total for this year) under the lead of Shinhan Investment Corp., demonstrating its differentiated growth potential even amid the stagnant delivery agency market.

On August 13, Vroong's board of directors approved a third-party paid-in capital increase, targeting Shinhan Investment Corp. or a third party designated by Shinhan Investment Corp. Subsequently, the company completed both the investment agreement and the payment for new shares. Including this round, Vroong has secured a total of 40 billion KRW in external investments this year alone.

Recently, the delivery agency industry has been facing an overall downturn due to a reduction in store deliveries and a decrease in order demand. However, Vroong maintains a market share of over 50% in the business-to-business (B2B) sector, especially among large franchise clients. The company also explained that it has proactively secured order volumes from major delivery platforms such as Baemin and Yogiyo, and has achieved a roughly 10% year-on-year increase in delivery volume, demonstrating continued growth despite the market slowdown.

Chief Financial Officer and CEO Chae Yunseo stated, "This investment once again confirms the market's confidence in Vroong's business model and growth potential, even in a challenging market environment," adding, "We will further solidify our position in the delivery agency market by accelerating technological advancement and service stabilization with the funds we have secured."

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