Reverent Partners invests in Series D round of Danggeun Market Funding round elevates Korean flea market app operator to unicorn status
Translated by Ryu Ho-joung 공개 2021-08-24 08:08:20
이 기사는 2021년 08월 24일 08:07 thebell 에 표출된 기사입니다.
South Korea’s Reverent Partners has participated in Seoul-based flea market app operator Danggeun Market’s 178.9 billion won ($152.4 million) Series D founding round, industry sources said on Friday.Reverent Partners is the first homegrown private equity firm to invest in the ecommerce startup. Other investors in the funding round include Hong Kong-based investment firms DST Global and Aspex Management as well as existing venture capital backers such as Goodwater Capital, SoftBank Ventures Asia, Altos Ventures, Kakao Ventures, Strong Ventures and Capstone Partners.
The funding round valued the startup at 3 trillion won, bringing it to unicorn status. The company’s value has increased tenfold over the past two years, from about 300 billion won in 2019, largely thanks to a sharp increase in users.
Danggeun Market, which operates local marketplace app Karrot, has grown rapidly in recent years. The company expanded the scope of its service to nationwide customers in early 2018. Its monthly average users have since increased greatly, from 500,000 in January 2018 to 14.2 million in January 2021.
“Danggeun Market is South Korea’s top hyper-local community platform with tremendous growth potential,” an official at Reverent Partners said, adding that they have closely watched Danggeun Market’s growth since the company’s early days.
Founded in July 2017, Reverent Partners mainly invests in growth companies in the technology sector, while expanding its focus to buyout deals. Its investments include semiconductor startup Fadu and big data firm IGAWorks.
Reverent Partners also acquired an 80% stake in Natural Way, a manufacturer of health supplement products, earlier this year for 75 billion won in partnership with Yonsei University. (Reporting by Se-hun Jo)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
best clicks
최신뉴스 in 전체기사
-
- '재무개선' AJ네트웍스, 조달비용 '확' 낮췄다
- '9년만에 엑시트' 한앤코, 한온시스템 거래구조 살펴보니
- 한국타이어앤테크놀로지, 한온시스템 인수한다
- [수술대 오른 커넥트웨이브]2대주주 지분매입 나선 MBK, 주식교환 카드 꺼냈다
- [이사회 모니터]이재용 에이비프로바이오 대표, 바이오·반도체 신사업 '드라이브'
- 와이투솔루션, 주인 바뀌어도 '신약' 중심엔 美 합작사 '룩사'
- 아이티센, 부산디지털자산거래소 본격 출범
- 아이에스시, AI·데이터센터 수주 증가에 '날개'
- [이사회 모니터]서정학 IBK증권 대표, ESG위원회도 참여 '영향력 확대'
- SW클라우드 '10주년' 폴라리스오피스, “초격차 밸류업”