What Bungaejangter does

Bungaejangter (consumer brand: Bunjang) operates Korea's largest C2C secondhand marketplace, founded in 2011 as the first mobile-based platform in the category. The company is headquartered in Seoul, employs 101–250 people, and generates revenue through transaction fees and commissions on peer-to-peer sales of second-hand goods between individual users. The platform's core technology stack is a mobile-first marketplace with a third-party Safe Payment System that holds funds until buyers confirm receipt, addressing trust gaps endemic to C2C transactions. In 2024 the company posted sales of KRW 44.9 billion and completed a Series E round of KRW 40 billion at a KRW 500 billion valuation, with proceeds directed toward safety enhancements and an overseas direct purchase feature that the company positions as a sector first.

The company's go-to-market is horizontal, targeting individual Korean consumers — including parents in their 30s and 40s and grandparents in their 50s and 60s — with secondary reach into international customers via the December 2025 K-GoodsShop integration, which adds purchasing support, payment, warehouse verification, and global shipping. Bungaejangter's brand and category authority are reinforced by proprietary market intelligence such as the K-Luxury Secondhand Report, and the luxury goods segment grew 52% year-over-year in 2025. The company has pursued bolt-on M&A historically (Market U and Price Golf in March 2021; Sell it in October 2017) to broaden vertical reach within second-hand commerce.

Ownership is concentrated: private equity firm Praxis Capital Partners acquired an 80% stake for approximately KRW 150 billion in 2020 and announced in February 2026 the sale of its management control stake, with Citi Securities running the process — a transition that places the company at an active inflection point for new strategic or financial ownership after roughly six years of PE control.

Name

Bungaejangter

Legal name

Bungaejangter

Website

https://bgzt.co.kr

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Bungaejangter (Bunjang) operates Korea's largest mobile C2C secondhand marketplace, founded in 2011. It enables individual consumers to buy and sell second-hand goods via a safe-payment platform and recently expanded internationally through a K-GoodsShop integration for overseas buyers.

Ownership category

akta.pro rank

Product category

Online C2C Resale Marketplace

akta.pro primary industry

B2B Marketplaces & Wholesale Platforms (BPAMAGAD)

Keywords

• C2C secondhand marketplace
• Peer-to-peer resale platform
• Mobile used goods trading
• Online resale marketplace
• Korean secondhand commerce

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. C2C Marketplace Commission: Bungaejangter operates as a C2C (consumer-to-consumer) marketplace, generating revenue through transaction fees and commissions on second-hand goods sales between individual users.

Go-to-market motion2 records

Distribution channels2 records

Core offering

Bungaejangter operates "Bunjan," Korea's first mobile-based C2C (consumer-to-consumer) secondhand marketplace, founded in 2011. The platform enables individual users to list, discover, and purchase pre-owned goods directly from other individual sellers, with a built-in third-party safe payment system that holds funds until buyers confirm receipt. The platform has expanded internationally through an integration with K-GoodsShop that provides overseas customers with purchasing support, payment processing, warehouse verification, and global shipping.

Product overview

Bungaejangter operates as a single unified C2C marketplace platform under the brand Bunjan (번개장터). Founded in 2011 as Korea's first mobile-based secondhand marketplace, the platform enables direct consumer-to-consumer transactions for second-hand goods. The platform offers a safe payment system and has expanded to include overseas direct purchase capabilities. The company also publishes market intelligence reports such as the K-Luxury Secondhand Report for data-driven insights.

Differentiator

Problem solved

Functional benefit

Products and services

• Bunjan C2C Marketplace Korea's largest consumer-to-consumer mobile marketplace platform that allows individual users to list and purchase secondhand goods directly from other individual sellers, supported by a third-party Safe Payment System.
• Overseas Direct Purchase Service capability enabling international customers to browse and purchase second-hand Korean goods listed by individual sellers, with the company described as the first in its sector to offer this capability.
• K-GoodsShop Integration Service Integration service in partnership with K-GoodsShop that lets international customers browse and purchase second-hand Korean goods, including purchasing support, payment processing, warehouse verification, and global shipping.

Quantifiable outcome

• 52% year-over-year increase in luxury goods transactions (2025)
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

One partnership is on record.

• K-GoodsShopcoreGTM or Marketing Partner · 24 December 2025K-GoodsShop launched a product integration service with Bunjang, Korea's largest C2C marketplace. The service allows international customers to browse and purchase second-hand Korean goods through a single platform. The integration includes purchasing support, payment processing, warehouse verification, and global shipping services, aiming to ease access to Korean C2C goods for overseas customers.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• eBay Classifieds: Global C2C classifieds platform (formerly eBay Classifieds Group, now restructured). Provides broader marketplace context and competition for global secondhand goods categories.
• Craigslist: Long-established US classifieds platform for secondhand goods and local listings. Provides historical peer context for C2C marketplace dynamics and fee structure alternatives.

Direct peers

• Danggeun Market (Karrot): South Korea's leading hyperlocal C2C marketplace, differentiated by community-based trust and location-based transactions. Directly competes with Bungaejangter in the Korean secondhand goods space.
• Joongna (Naver): Korean C2C classifieds platform owned by Naver, offering secondhand goods listings across categories. Directly competes with Bungaejangter for Korean seller and buyer mindshare.
• Mercari: Japan's leading C2C mobile marketplace with similar app-based P2P secondhand goods trading model. Closely comparable business model, target customer (consumers), and category focus to Bungaejangter.
• Vinted: European C2C marketplace specializing in secondhand fashion and lifestyle goods. Comparable mobile-first peer-to-peer marketplace model with similar trust/safety infrastructure.
• Poshmark: US-based C2C marketplace for secondhand fashion and lifestyle goods, now owned by Naver. Directly comparable social commerce marketplace model targeting individual buyers and sellers.
• OfferUp: US mobile-first C2C marketplace for local secondhand goods transactions. Comparable in mobile-first peer-to-peer secondhand goods marketplace positioning.

Emerging players

• Carousell: Southeast Asian C2C mobile marketplace operating across Singapore, Indonesia, Philippines, and other ASEAN markets. Comparable mobile-first secondhand goods model with regional expansion focus.
• Wallapop: Spain-based mobile C2C marketplace for secondhand goods. Comparable mobile-first P2P marketplace model with geographic expansion potential as a future competitor or peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bungaejangter

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds5 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bungaejangter