Flea Auction

Flea Auction Inc. is an online marketplace based in Seoul, South Korea, specializing in art auctions and sales. The platform connects artists with collectors, enabling direct transactions and discovery of unique artworks. Founded in 2020 in Seoul, South Korea, Flea Auction operates as an online platform dedicated to art auctions.

The company has completed 2 deals to date, with its most recent funding round being a Seed round in December 2022, during which it raised KRW 500 million from Smilegate Investment, Nautilus Venture Partners, and GENAXIS. The CEO, Judy Lee, leads the company as it focuses on expanding its offerings in the art marketplace. Flea Auction Inc. primarily functions as an online marketplace for art, allowing artists to auction and sell their works while providing collectors with a curated selection.

The platform enhances the buying experience by facilitating direct transactions, catering to individual collectors, interior designers, and businesses seeking unique art pieces. The company targets major urban centers, particularly in Seoul, and aims to deepen its reach within vibrant art communities. In the most recent fiscal year of 2021, Flea Auction generated revenue amounting to KRW 25,830. 20 million through its commission-based sales model, where a portion of each transaction supports the revenue stream as artists list their artworks for auction.

Following a Seed funding round in December 2022, Flea Auction plans to leverage the KRW 500 million raised to enhance its service offerings. The company aims to introduce new features on its platform that will improve user experience, and it is also considering expanding into international markets beyond South Korea, although specific regions and timelines are not detailed at this time.