MINEIS, a Korean startup operating the fashion recommerce platform Charan, has raised USD 12.1 million(KRW 16.8 billion) in a Series B funding round.

The round saw participation from BonAngels Venture Partners, Hashed, SBVA (formerly SoftBank Ventures Asia), and Altos Ventures. This follows Charan’s USD 7.2 million(KRW 10 billion) Series A in April 2023, bringing its cumulative funding to USD 23.2 million(KRW 32.2 billion).

Charan is a fulfillment-based recommerce platform that offers branded fashion at up to 90% off. Unlike traditional peer-to-peer secondhand markets, Charan pioneered a full-cycle service model covering collection, authentication, sanitization and fragrance treatment, product photography, pricing, sales, and delivery—establishing itself as a trailblazer in recommerce.

For sellers, Charan eliminates hassle and maximizes returns with data-driven pricing. For buyers, it ensures safe, verified products at affordable prices. This dual advantage has positioned Charan as a first mover enhancing both trust and convenience in the recommerce market.

Since its official launch in August 2023, Charan has surpassed one million cumulative users. Following its Series A, sales volume has grown nearly fivefold, reflecting rapid business expansion.

The new funding will be directed toward category expansion and infrastructure upgrades. After extending from women’s apparel into accessories in December 2023, Charan plans to expand into children’s and men’s fashion. It will also enhance logistics capacity and IT systems to improve service efficiency and reliability, while fostering an ecosystem where anyone can trade seamlessly and safely. Additionally, by extending the lifecycle of fashion items, Charan aims to deliver environmental value and promote a culture of sustainable consumption.

Taenyon Kim, Partner at BonAngels Venture Partners, stated, “Charan has solved the chronic issues of trust and inconvenience in secondhand transactions with technology. With an overwhelming user experience, it is rapidly dominating the market and shaping sustainable consumer culture. Based on deep market insight and execution, Charan is poised to redefine the paradigm of secondhand commerce.”

Seojun Kim, CEO of Hashed, commented, “For a long time, secondhand trading has existed without a real ‘system.’ Charan filled that gap, addressing the emotional challenge of trust with technology and structure. The team has designed a framework that no one else envisioned, and such teams ultimately change culture. Charan’s recommerce model transforms consumption from repetition into circulation—an experiment that is already reshaping daily life.”

Hyesung Kim, CEO of MINEIS, remarked, “As a first mover in the recommerce market, Charan has set new standards and strengthened competitiveness. With this funding, we will accelerate category expansion and infrastructure investment, ensuring more consumers experience Charan while simultaneously delivering rational consumption and environmental value. Our goal is to grow into a platform where sustainability and affordability go hand in hand.”