Light Bargain

About Light Bargain

Baree Corporation, founded in February 2020 by CEO Seung-woo Yeom (also known as Oh Kyung-dam), operates Reitwagen (reitwagen.co.kr), a comprehensive motorcycle finance and commerce platform in South Korea. The company's name is a nod to the 1885 Reitwagen, the world's first gasoline-powered motorcycle, reflecting its mission to innovate the two-wheeler market. Baree Corporation is headquartered in Seoul, South Korea.

The platform addresses the challenges of the used motorcycle market by integrating IT and financial services. It serves as a one-stop solution for motorcycle enthusiasts, offering a marketplace for both new and used bikes, financial solutions, insurance, and maintenance services. The company's business model centers on its financial products: 'LavaPay' and 'Lava Subscription'. LavaPay introduces installment payments for peer-to-peer used motorcycle transactions, allowing buyers to use credit cards for up to 24 months without interest. 'Lava Subscription' enables users to acquire new motorcycles through monthly payments without a large upfront cost, a model that does not affect their credit scores. This subscription service has become a primary revenue driver, accounting for 80% of total sales in 2024.

Reitwagen also features an open market with a large volume of daily updated listings and a 'Certified Used' service, where experts inspect motorcycles across more than 60 items to ensure transaction reliability. The platform has seen significant growth, reporting a tripling of revenue in 2024 and achieving profitability for the first time. Monthly active users surpassed 350,000, a 600% year-over-year increase. Baree Corporation has secured substantial funding, including a KRW 4 billion Series A round in December 2022 and a KRW 10.3 billion Series B round in May 2025 from investors like SV Investment and Hyundai Technology Investment. The company was also selected for the '2024 Baby Unicorn' program by the Ministry of SMEs and Startups.