South Korea-based interior design platform operator Bucketplace is in the process of raising ₩235bn ($190m) from investors including internet and telecommunications group SoftBank, The Bell has reported.
The state-owned Korea Development Bank is leading the round, participating alongside its KDB Industrial Bank subsidiary, investment firm KB Investment and Vertex Growth, the growth capital arm of venture capital firm Vertex Ventures, which is investing $10m.
SoftBank will be represented in the round by its SoftBank Ventures Asia unit and it is set to value Bucketplace at $1.45bn.
Founded in 2014, Bucketplace has built a mobile app called Today’s House (also known as Ohouse), which helps users with home remodelling and decoration in areas including furniture, accessories and interior construction.
The company had previously secured $70m in a series C round in late 2020 featuring internet group Naver. Investment firm Bond led the round, which included IMM Investment, Mirae Asset Capital and Mirae Asset Venture Investment, a vehicle for financial services provider Mirae Asset.
Naver had already backed Bucketplace’s $4.5m series B round in 2018, and IMM Investment, Mirae Asset Capital and Mirae Asset Venture Investment were all identified as existing investors in the series C round.
Photo courtesy of Bucketplace, Co, Ltd.
