# BALAAN

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/balaan

- Industry: Retail
- Headquarters: Seoul, South Korea
- Website: www.balaan.co.kr
- Total disclosed funding: $79M
- Latest round: Series C (Oct 14, 2022)
- Investors on record: 10

## About

Founded in 2015 and based in Seoul, South Korea, BALAAN operates a business as a luxury boutique online shopping mall.  In October 2022, BALAAN raised KRW 25 billion in series C funding from new investor Shinhan Capital and other unspecified investors. Returning investors DAOL Investment and Company K Partners also participated in this round. As of 2023, the company is led by its CEO Choi Hyeong-rok.

BALAAN offers consumer products including footwear, purses, and neckties for men and women.

The company will use the October funding to upgrade its service and technology.

## Funding rounds

- Series C, Oct 14, 2022, $17M — WOORI Venture Partners, Shinhan Capital, Company K Partners
- Series B, Oct 21, 2021, $28M — WOORI Venture Partners, SBI Investment, Shinhan Capital, JB Investment, Kolon Investment, Company K Partners, Naver, K-Growth
- Series B, Oct 7, 2021, $25M — WOORI Venture Partners, SBI Investment, JB Investment
- Series A, Dec 20, 2019, $8.6M — Q Capital Partners, SBI Investment, JB Investment, Kolon Investment, We Venture Partners

## Investors

- Q Capital Partners (https://capitalatlas.ai/funds/q-capital-partners) — Series A
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Series A, Series B
- JB Investment (https://capitalatlas.ai/funds/jb-investment) — Series A, Series B
- Kolon Investment (https://capitalatlas.ai/funds/kolon-investment) — Series A, Series B
- We Venture Partners (https://capitalatlas.ai/funds/we-venture-partners) — Series A
- WOORI Venture Partners (https://capitalatlas.ai/funds/woori-venture-partners) — Series B, Series C
- Shinhan Capital (https://capitalatlas.ai/funds/shinhan-capital) — Series B, Series C
- Company K Partners (https://capitalatlas.ai/funds/company-k-partners) — Series B, Series C
- Naver — Series B
- K-Growth (https://capitalatlas.ai/funds/k-growth) — Series B