[Exclusive] Zigbang Nears 80 Billion KRW Investment from KDB and VCs

Real estate brokerage platform Zigbang is on the verge of securing an investment worth several hundred billion won.

According to financial sources on the 27th, the investment of approximately 80 billion won from the Korea Development Bank and venture capitalists (VCs) is in its final stages. The investment from VCs is nearly finalized, and the Korea Development Bank is also reviewing an investment of several hundred billion won in Zigbang, which is expected to be confirmed as early as the end of next month.

Zigbang's expansion beyond real estate brokerage platforms into global virtual offices and smart home sectors has reportedly played a positive role in enhancing its value as an innovative company, contributing to this investment attraction. The Korea Development Bank has also been accelerating its venture and startup investments, having invested in more than four companies earlier this year alone.

Founded in 2010 by CEO An Seong-woo, Zigbang is a first-generation company that transformed real estate brokerage services providing one-room and two-room information into an online platform, establishing a solid position in the real estate brokerage platform sector. Subsequently, through mergers and acquisitions (M&A) within the same industry, it expanded its scope to apartments, commercial real estate, and houses, becoming the number one proptech (property technology) company in Korea.

Zigbang grew its presence by acquiring 'Hogangnono' in 2018, which provides real-time apartment price information, 'Uju', a share house operator in 2019, and the real estate information platform 'Sugarhill'. Additionally, it has expanded its business through technology investments in AI-based architectural design company Spacewalk and virtual reality (VR) startup Qupix. Last year, it attracted attention by launching its self-developed metaverse office 'Metapolis', adopting a full remote work system for all employees, and acquiring the home Internet of Things (IoT) division of Samsung SDS, a major corporation, marking a groundbreaking move for an IT company.

Going forward, Zigbang is expected to accelerate its entry into the virtual office and smart home sectors based on the investment funds. On the 20th, Zigbang introduced 'Soma', an upgraded version of the virtual office 'Metapolis', to the global market. It is also seeking synergy in the smart home market by combining Zigbang’s residential content with Samsung SDS’s home IoT hardware.

Despite the deteriorating investment market due to the Ukraine crisis and other factors, Zigbang’s strong performance has been noted. An industry insider said, "The company’s innovative aspects, such as eliminating the headquarters and shifting all employees to remote work, seem to have had some positive effect." However, the Korea Development Bank stated, "We cannot officially comment at this time." A Zigbang representative also said, "We cannot confirm this."