# Bungaejangter

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

- Industry: Consumer Products
- Headquarters: Seoul, South Korea
- Website: www.bunjang.co.kr
- Latest round: Seed (Jun 1, 2011)
- Investors on record: 1

## About

Based in South Korea, Bungaejangter Inc. is a dynamic platform specializing in consumer-to-consumer transactions for second-hand goods, offering users a user-friendly interface to buy and sell a wide range of products.Founded in 2011 and headquartered in Seoul, South Korea, Bungaejangter Inc. operates as a marketplace for second-hand goods. The company has completed 10 deals to date, with its most recent deal occurring on July 11, 2024. In this Series E funding round, Bungaejangter raised KRW 40 billion, led by Hana Alternative Asset Management. Jaewha Choi and Lee Jaehoo serve as the company's CEOs.Bungaejangter operates as a platform facilitating the buying and selling of second-hand goods, primarily focusing on consumer-to-consumer (C2C) transactions. The platform enables users to list a variety of products, ranging from fashion items and electronics to collectibles and home goods. Users can easily navigate the platform to discover items that suit their needs, and the service aims to resolve issues related to the accessibility and affordability of quality second-hand products. As a significant marketplace in South Korea, it serves a diverse customer base that includes individual sellers looking to monetize unused items and buyers seeking cost-effective alternatives to new products. The platform operates within the South Korean market, catering specifically to urban areas with high demand for second-hand goods.Bungaejangter generates revenue primarily through transaction fees applied to the sales made on its platform. When a user successfully sells an item, a predetermined percentage of the sale price is retained as a fee, which facilitates the platform's operational costs and development. Transactions occur directly between consumers, with Bungaejangter providing the infrastructure for listings and communications, ensuring a seamless buying and selling experience. The platform accommodates various categories of products, including fashion brands, electronics, and home decor, which are strategically priced to attract budget-conscious consumers. As the platform enhances its offerings, including potential partnerships and exclusive listings, it continues to engage both individual sellers and buyers, solidifying its position in the second-hand market.In July 2024, Bungaejangter Inc. raised KRW 40 billion in Series E funding to expand its operations. The company plans to introduce new product lines to enhance its marketplace offerings and improve user experience. Additionally, it aims to penetrate new geographic regions, with specific plans for expansion into cities beyond South Korea by the end of 2025. The recent funding will be utilized to support these initiatives, enhancing the technology infrastructure and marketing efforts to attract a broader audience.

## Funding rounds

- Seed, Jun 1, 2011 — Primer

## Investors

- Primer (https://capitalatlas.ai/funds/primer) — Seed