Korean luxury commerce platform Trenbe has secured Series E funding, with participation from investors including IMM Investment, Korea Investment Partners, Atinum Investment, Murex Partners, and SL Investment.

Established in 2017, Trenbe is the leading luxury commerce platform in Korea and has recently successfully expanded its business to include pre-owned luxury goods. The company attributes its ability to secure investment despite the challenging funding environment to improvements in profitability.

Trenbe’s operating loss for 2023 decreased by approximately 90% compared to the previous year, and the highly profitable pre-owned luxury goods business has grown to account for around 30% of total transaction volume in a short period.

The company has received high praise for growing its pre-owned luxury goods business through innovative services. The AI authentication service ‘Mars,’ introduced in early 2023, and the AI price prediction service ‘Cloi,’ introduced at the end of 2023, have been highly regarded for their technological capabilities.

Furthermore, Trenbe has been continuously expanding innovative services that enhance customer convenience while improving operational efficiency. In March of this year, the company launched offline centers where customers can visit and sell their pre-owned luxury goods. In just three months, these centers have expanded to over 20 locations nationwide.

These offline sourcing centers operate on a model that allows them to open and function without direct cost investment from Trenbe, enabling rapid expansion in a short time. Starting this month, Trenbe has also begun sourcing pre-owned luxury goods through GS25 and GS The Fresh stores nationwide, further improving customer convenience for selling pre-owned luxury goods.

An IMM Investment representative stated, “We decided to invest in Trenbe with confidence in their quick market adaptability, technological capabilities, and future growth potential. We are particularly looking forward to their achievements in the rapidly growing pre-owned luxury goods market.”

Trenbe CEO Lee Jong-hyun said, “Through this investment, we plan to strengthen both our existing luxury goods business and our pre-owned luxury goods business. We see this as an opportunity to secure both growth and profitability. We believe we will not only maintain our position as the number one luxury platform but also quickly achieve the top position in the pre-owned luxury market. Moreover, our pre-owned luxury goods business model is competitive globally, and we will swiftly pursue global expansion.”