Naver adds $109.5M to Kream as resale platform diversifies beyond sneakers
What's the deal? NaverDealroom has a profile for this one. Try Dealroom → will inject an additional 130 billion won ($109.5 million) into Kream, its South Korean consumer-to-consumer (C2C) trading platform, through a paid-in capital increase. Naver's board approved acquiring 38,681 common shares, with the investment scheduled for the second half of 2026. The round takes Naver's total investment in Kream to 179.99 billion won.
What's the endgame? Kream started as a limited-edition sneaker resale platform and has expanded into streetwear, luxury goods, electronics, and refurbished products. Sellers ship items to an authentication centre, where staff verify authenticity and condition before delivery to buyers.
Why now? The diversification is showing up in the numbers: sneakers made up about 37% of transaction volume in 2025, with non-sneaker products at 63%. Naver said the capital supports "securing funds to enhance business scale."
Show me the numbers: Combined revenue from Kream's South Korean and Japanese operations hit an all-time high of 397.5 billion won in 2025, up roughly 100 billion won from 297.6 billion won. On a standalone basis, revenue rose 14% year-over-year to 202.5 billion won, and standalone EBITDA jumped 159% to 4.8 billion won. Operating loss narrowed about 9% to 8.1 billion won.
The bigger picture: Kream sits within Naver's broader C2C push, which grew Q1 2026 revenue 57.7% year-over-year on the consolidation of Wallapop and growth at Poshmark, Kream, and Japanese subsidiary SODA.
The signal: The raise ranks in the 91st percentile among all-time late-VC fashion rounds in South Korea, underscoring Naver's bet that authenticated resale can scale into a broad trading platform at home and abroad.
Read more: Infomax
Image credit: Generated with Gemini
