All commerce Funding Startup News in Korea (Korean Startup News)

Resell platform ‘Kream’ is close to unicorn with 50 billion KRW in funding

2023-03-24 < 1 min read

Resell platform ‘Kream’ is close to unicorn with 50 billion KRW in funding

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South Korea-based resell platform KREAM has announced that it has raised an additional 50.6 billion won in funding. The company closed its Series C round with a total of KRW 220.6 billion, including KRW 170 billion in November last year.

The additional investment was led by Mirae Asset Capital and Altos Ventures, with Samsung Securities joining as a new investor. In addition, two new overseas funds, including Axiom Asia, also participated.

The new investment values Kream at 970 billion won, bringing the company closer to unicorn status. 

Launched in March 2020 through NAVER‘s subsidiary Snow, Kream is a C2C transaction brokerage platform that allows users to buy and sell limited edition sneakers, watches, and luxury goods that are difficult to find in general stores based on a new trend called “resell” that is spreading among MZ generation. 

It has also built a strong community for the exchange of fashion information among the MZ generation and is exerting its influence as a new fashion commerce platform. It is also expanding its target audience to the 4050s as a trusted platform where they can easily get limited edition resell products.

[Startup News in Korea]

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