The SoftBank and Kakao-backed locally-focused e-commerce platform raised the money in a series C round co-led by Goodwater Capital and Altos Ventures.
Danggeun Market, a South Korea-based e-commerce marketplace backed by internet groups Kakao and SoftBank, raised $33m in series C funding yesterday, TechCrunch reported.
Venture capital firms Goodwater Capital and Altos Ventures co-led the round, which boosted the company’s funding to $40.5m altogether according to TechCrunch.
Founded in 2015, Danggeun runs a peer-to-peer marketplace called Karrot that enables users to purchase and sell second-hand goods, but only to users located within a short distance.
The business model relies on densely populated…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
