Calling All Student Entrepreneurs: Tell Us About Your Startup

Korean Crowdfunding Startup Tumblbug Raised $16m In Funding But It Has Too Many Competitors

|
May 22, 2015
tumblbug

Crowdfunding is a global phenomenon now. People are making awesome, out of the box ideas happen with the support from masses.

BeSuccess, a Korean tech news portal, reports Tumblbug, a South Korean crowdfunding platform for the creative industry has raised an amount of KRW 17 billion (around US$16 million) in series A investment. Investors include DCM, Strong Ventures, and Naver, the maker of messaging app Line.

A 2013 report by Inha University Law School professor Hye-Hwal Seong claims Korea has around 30 crowdfunding platforms; Tumblbug which uses a Kickstarter like model serves country’s creative community. Launched in 2011 Tumblbug has hosted more than 1800 projects of which 65% of projects reached their goal successfully.

Sources: BeSuccess, TechInAsia


Register to read this article in full and more insight articles!

By registering, you will be signed-up for an account which gives you access to our premium stories published a few times a week and archives of all our premium stories. You will also receive a daily newsletter sent to your inbox. To unsubscribe, please visit the profile section in your account. We have a strong privacy policy. We will never share or sell your data to anyone.

What you get
In-depth actionable analysis

In-depth analysis on startup, business and technology scene in Bangladesh that you would not find anywhere else.
Daily and weekly newsletter
Get our daily and weekly newsletter with our most important stories directly to your inbox.
Join the conversion on this article and more on our public Telegram Group
Ibrahim works as an Intern at FS. He takes interviews, writes features, and meets entrepreneurs and makers and doers.

In-depth business & tech coverage from Dhaka

Stories exclusively available at FS

About FS

Contact Us

Shares