Pinkoi, a Taiwan-based online marketplace for curated and independently-designed goods, secured $9m yesterday from GMO Venture Partners, internet company GMO’s strategic investment arm, and venture capital fund Sequoia India.
Founded in 2011, Pinkoi operates as a platform where users can sell their handmade goods, much like Etsy does in the US.
The company, which has racked up 25,000 retailers spanning the whole of Asia as well as 2 million monthly users, also brings a curation aspect to the Etsy model, approving designers itself and targeting specific demographics for its goods.
The round was announced in conjunction with Pinkoi’s launch of an English language site, adding to the Japanese, Thai, and simplified and traditional Chinese sites it oversees. It is the first external funding revealed by the company, which intends to use the cash to expand its seller base across Asia.