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The Korea Herald
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THE INVESTOR
March 19, 2024

Startups

Joonggonara receives W5b investment from JB Woori Capital, Kiwoom Securities

  • PUBLISHED :August 21, 2018 - 15:04
  • UPDATED :August 21, 2018 - 15:08
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[THE INVESTOR] Joonggonara, Korea’s biggest marketplace for secondhand goods, on Aug.21 said it has received 5 billion won (US$4.47 million) in investment from JB Woori Capital and Kiwoom Securities. 

JB Woori Capital, which has injected 3 billion won, is participating as a strategic investor to conduct joint businesses with Joonggonara in various areas, including used car operations. When combining the latest fund and the Series A round of 8 billion won in 2015, Jonggonara has accumulated 13 billion won in investments in total. 




“We are happy that the strategic partnership with JB Woori Capital has developed into this investment,” said Lee Seung-woo, CEO of Joonggonara. “We will conduct activities to create synergies combining JB Woori Capital’s digital financial competitiveness and Joonggonara’s platform technology.” 

Joonggonara, established in 2003 as an online community on Korea’s largest portal Naver, boasts 16 million monthly active users. With the debut of its mobile app version in 2016, it has implemented user authentication, secure payment methods and convenience store delivery service, among others, for better user experience. Last year, it rolled out its used car sale platform, where it sells only cars that pass verification by the dealers. 

In the second half, Joonggonara plans to open its first offline shop in Ansan, Gyeonggi Province, where customers can trade used cars and receive auto repair and financing services as well.

By Ahn Sung-mi (sahn@heraldcorp.com)

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