Korea-based startup BLANK, specializing in vacant house revitalization, has secured pre-Series A investment from Bluepoint Partners and Heren Corporation.
BLANK is a proptech startup focused on remodeling and rental management of vacant homes. The company aims to build sustainable living environments by leveraging the potential of depopulated areas. By discovering value in overlooked vacant properties and applying technology to the fragmented rental management market, BLANK combines profitability with public service.
Currently, BLANK operates in seven cities across South Korea, including Yeongju, Danyang, and Namhae, where it leases vacant homes for free and transforms them into community-oriented shared housing. In addition to these projects, BLANK is collaborating with various local governments to secure living populations in these depopulated areas.
Bluepoint Partners highlighted BLANK’s innovative approach to solving the growing socio-economic problem of vacant homes in rural areas. They recognized the company’s business capabilities and strong regional networks as key factors that position it as a competitive player in addressing this challenge.
With this latest investment, BLANK plans to standardize the complex processes involved in reviewing the business potential of vacant homes, remodeling, and managing rentals. Their goal is to offer an attractive service to both homeowners and tenants, leading to the expansion of their successful project.
The issue of vacant homes in rural areas, exacerbated by population decline, is expected to grow from 1.53 million units in 2023 to 3 million by 2050. Both the Korean government and local municipalities are increasingly focusing on tackling this issue through various initiatives.
Sunggyu Moon, CEO of BLANK, said, “The current situation urgently requires tech-driven startups that can turn population decline into new market opportunities. By utilizing idle assets, we aim to provide flexible living experiences in new regions and contribute to increasing the living population in depopulated areas.”
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