Namdo Market Raises $4.1M Series A to Scale Its Wholesale Market OS Nationwide and Abroad

Namdo Market, a startup building a digital operating system for Korea’s traditional wholesale markets, has closed a Series A round of $4.05M (KRW 6 billion), bringing its total funding to $6.76M (KRW 10 billion).

Five investors backed the round: TransLink Investment, D-CAMP (operated by the Korea Federation of Banks’ youth entrepreneurship foundation), BA Investment, UBIQUOSS Investment, and H Inve. TransLink Investment and D-CAMP, both existing shareholders, returned for a follow-on investment. TransLink Investment has now backed Namdo Market across three consecutive rounds since its earliest funding, underscoring continued confidence in the company’s business model and growth trajectory. BA Investment, UBIQUOSS Investment, and H Inve joined as new investors, broadening the company’s investor base.

Namdo Market runs its business on three connected systems: the wholesale commerce platform ND MARKET, the order and settlement automation system ND UNCLE, and the store management system Uncle POS. Together they link product listing, ordering, sales, client management, payment, settlement, and delivery into a single data flow for traditional wholesale markets. ND UNCLE previously won a presidential award for regulatory innovation, recognizing both its technology and its impact on market operations.

The company currently holds roughly 50% market share across the major wholesale markets in Namdaemun and Dongdaemun, positioning it as the leading wholesale market OS provider in Korea.

Namdo Market is demonstrating growth and profitability in parallel. Last year, the company recorded $248.72M (KRW 368.1 billion) in transaction volume and $15.14M (KRW 22.4 billion) in revenue. In the first half of this year alone, revenue reached $20.27M (KRW 30 billion), and the company projects annual transaction volume will approach $675.68M (KRW 1 trillion).

The new funding will first go toward upgrading the wholesale market OS and expanding operations in the Dongdaemun market. From there, Namdo Market plans to extend the operating system it has validated in Namdaemun and Dongdaemun to other major wholesale markets nationwide, including Garak Market and Maecheon Market, positioning it as the standard OS for Korea’s wholesale markets.

Through the recently launched Uncle POS, the company is extending its OS beyond online ordering and settlement into offline store operations. Built around the day-to-day realities of running a wholesale store, Uncle POS integrates the functions wholesale merchants need to manage their operations.

Namdo Market has already begun applying AI across wholesale market operations as part of a broader AI transformation (AX) effort. With the new capital, the company plans to expand AI applications across its wholesale market OS to further improve productivity and decision-making on the ground.

The company is also accelerating its global expansion. Namdo Market currently exports Korean wholesale goods to more than 20 countries, and its operational solutions — including the order and settlement automation system ND UNCLE — are already in use in more than four countries.

Beyond delivery, payment, and export, Namdo Market operates a fintech service that uses real transaction and settlement data to provide emergency working capital to wholesale merchants and small manufacturers. The company plans to build on this private financing model, which aligns with the government’s productive finance policy, to support sustainable growth on the ground.

“This investment marks an important turning point for expanding the OS we’ve validated in Namdaemun and Dongdaemun to major wholesale markets nationwide and to global markets,” said Seungwoo Yang, CEO of Namdo Market. “We will accelerate the transformation of traditional wholesale markets through AX and establish Namdo Market’s OS as the standard for Korea’s wholesale markets. We aim to grow into a company that leads operational innovation in wholesale markets worldwide.”