Fashion resale platform BGZT has secured 40 billion won in Series E funding. The investment round was led by Hana Alternative Investment Asset Management, valuing the company at 500 billion won.
Launched in 2011, BGZT is a second-hand marketplace app specializing in fashion and lifestyle items, including sneakers, luxury brands, and hobby-related products such as golf equipment and bicycles. By addressing challenges in the traditional second-hand transaction process, BGZT’s platform-based revenue increased by more than 50% year-over-year in 2023.
The company projects its revenue to more than double year-over-year in 2024 and aims to achieve profitability.
Last month, BGZT partnered with Mercari, Japan’s largest second-hand trading platform, to introduce the first “Overseas Tab” feature on a resale platform, expanding its reach to international markets.