Namdo Market Secures 6 Billion Won Series A Funding to Digitize Wholesale Markets

Namdo Market, a startup focused on establishing digital standards for wholesale markets, announced it has raised 6 billion won in Series A funding, bringing its total investment to 10 billion won. The company plans to leverage this capital to expand its operating system (OS) beyond its current strongholds in Namdaemun and Dongdaemun markets to major wholesale markets across South Korea and internationally. This expansion will be supported by accelerating its AI transformation (AX) initiatives to solidify its position as a leading OS model for wholesale markets in Korea. The funding round saw participation from five investors, including existing backers Translink Investment and D-CAMP, alongside new investors BA Investment, Ubiquitous Investment, and H-INVE. Namdo Market's OS connects wholesale market operations through a unified data flow, currently holding an estimated 50% market share in key Seoul markets. Last year, the company recorded 368.1 billion won in transactions and 22.4 billion won in revenue, with first-half revenue this year reaching 30 billion won. The company aims for 1 trillion won in annual transaction volume. Funds will be prioritized for OS enhancement and Dongdaemun business expansion, followed by a phased rollout to other national markets like Garak and Maecheon. They also plan to broaden their 'Uncle POS' system to offline stores, integrating online and offline data, and implementing AI for operational efficiency. Globally, Namdo Market will adapt its business models to various distribution environments, drawing on its experience in over 20 export networks and solutions used in more than four countries. Additionally, the company will offer emergency production fund support services using transaction and settlement data for small producers and wholesalers.

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Through this investment, we will expand the OS verified in Namdaemun and Dongdaemun to national and global markets.