Danggeun Market, S Korea’s Online Marketplace for Used Items, Raises US33.49m

Danggeun Market, a South Korean online marketplace for secondhand items, has raised W40 billion (US$33.49 million) in its latest funding round, which was co-anchored by Altos Ventures and Goodwater Capital.

In a statement Monday, the startup said the recent fundraising was also backed by existing investors Kakao Ventures, SoftBank Ventures, Capstone Ventures, and Strong Ventures.

The US$33.59 million fundraise brings the company’s total funding to date to W48 billion or about US$53.3 million. It first raised W1.3 billion in its Kakao Ventures-led Series A in 2016. SoftBank Ventures also led Danggeun Market’s W6.8 billion Series B last year.