Flo-Lounge Secures Pre-Series A Funding to Expand Innovative Flower Market
Reading Time: 2 minutesFlo-Lounge, a Korea-based flower market that bridges online and offline sales, has secured pre-Series A funding from New Paradigm Investment. The amount remains undisclosed.
Founded in 2021, Flo-Lounge is an O2O (online-to-offline) floral distribution platform startup that connects flowers with consumers.
As a ‘third-generation flower shop’ with a supermarket concept, Flo-Lounge offers a unique shopping experience where customers can select and purchase flowers directly, checking prices and other details just like grocery shopping.
In their stores, transparent product information such as price, origin, arrival date, and flower meaning is provided, and freshness is maintained through their patented ‘flower refrigerator’ display equipment.
Customers can buy single stems and customize bouquets with their preferred colors and meanings. They have also reduced costs through auction rights with the Korea Agro-Fisheries & Food Trade Corporation, offering competitive fixed prices for all products.
Flo-Lounge extends beyond physical stores to an online shopping mall, offering a range of services. They operate a premium flower delivery service that provides fresh bouquets and flower baskets at the same price as in-store purchases, thanks to their own delivery capabilities.
New Paradigm co-CEO Park Je-hyun stated, “Flo-Lounge distinguishes itself in a market where 90% of flower delivery services are intermediaries by running a direct shopping mall. It advances floral consumption culture with transparent product information, providing high-quality products and reliable online flower delivery services, thus expanding domestic flower consumption.”
Sim Ji-hyun, CEO of Flo-Lounge, said, “With this investment, we aim to secure key partner locations in Seoul and Gyeonggi and enhance online services to increase market share. Our goal is to secure 500 partners nationwide in the next two years and expand our same-day delivery service areas step by step.”
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