Influencer-inspired online shopping app Brandi has raised 6.4 billion won (USD $5.58m) in Series B funding from Sema Translink Investment, DSC Investment and Big Basin.
It’s the second investment from both DSC Investment and Big Basin for the startup, which has now received a total of 7.5 billion won ($6.54m) in funding.
Brandi is shopping app where users can buy clothes from blogger markets and influencers who run online shopping malls. The app has received over 1 million downloads since it was launched in July last year, and operates 1,700 online stores. Brandi is quickly becoming a leader in the influencer-commerce space, and according to the company its transaction totals have grown by 130% every month.
Jungmin Seo, CEO of Brandi, says that the number of commerce startups focused on influencers and those with strong online presence is growing fast. “There is still a lack of distribution and operational infrastructure,” says Seo. “We will now focus on creating a better commerce environment between influencers and consumers based on knowledge and infrastructure we’ve gained up until now.”
Last month, the company partnered with popular influencers, and also launched an integrated ‘Brandi Fulfillment’ service that covers sourcing from Dongdaemun (the home of fashion and markets in Korea), customer service and delivery. Brandi is also looking at the possibility of going global.
“Korean influencers and products are also popular in overseas markets,” said Jin Ho Hur, CEO of Sema Translink Investment. “We decided to invest in Brandi, as we are sure the service will expand not only locally, but also abroad.”
