Bungae Jangteo operates a fashion-focused secondhand transaction platform and has been expanding paid services to improve the resale experience. It launched an authentication service, 'Bungae Care', in December 2022 and has been growing its safe-payment product, 'Bungae Pay'. The share of users aged 35–44 has increased, and paid services have seen rapid growth. Platform-based revenue in 2023 rose by more than 50% year-over-year. Management expects this year's revenue to more than double and views 2024 as the year it will return to profitability. The company says it will continue rolling out new services—including a platform-first overseas direct-purchase offering—to strengthen usability and transaction safety. Bungaejangter operates an online secondhand market focused on millennial and generation Z users. The company facilitates buying and selling of goods between individuals and aims to make secondhand trading convenient and safe. Following a recent investment, Bungaejangter plans to partner with Shinhan Card to offer services related to secondhand trading and to develop digital content. The company expects to combine Shinhan Financial Group’s financial infrastructure with its user base to benefit both services. Financially, Bungaejangter received a ₩30 billion investment from Shinhan Financial Group and previously received a ₩56 billion investment from a consortium last year. CEO Lee Jae-hoo said the investment recognizes the company’s business performance and innovative trading methods and will support continued leadership in the secondhand market.

Total raised

$54M

Funding rounds

2

Latest round

Series E

Latest activity

Jul 2024