Seoul, Korea – May 8, 2025

Zigbang, South Korea’s leading proptech company, announced on May 8 that it has raised KRW 60 billion (approximately USD 44 million) through a bond with warrants (BW) deal with VIG Alternative Credit, the credit investment arm of VIG Partners.

The deal was executed at the same valuation as Zigbang’s previous funding round, reflecting investor confidence in the long-term vision of Zigbang and its sister platform Hogangnono—both at the forefront of modernizing Korea’s real estate sector. “We share a mutual belief in the growth potential of the real estate industry, Korea’s largest by market size,” a company spokesperson said.

Founded in 2011, Zigbang has maintained a leading position in the rental listings market by combining property services with innovative technology. Over the past decade, the company has grown into a dominant player through its two platforms, Zigbang and Hogangnono.

Building on its rental platform success, Zigbang has introduced new revenue-generating services, including a digital ad platform for apartment brokers and marketing solutions for new developments. These high-margin offerings have helped fuel its continued growth.

Following its acquisition of Samsung SDS’s home IoT division, Zigbang has made significant inroads into the smart home sector. Its next-generation product lineup includes AI-powered facial recognition door locks and smart lobby phones. The company is also expanding its international footprint, with exports to China, Singapore, Taiwan, and Australia steadily increasing.

Zigbang focused on both developing new business lines and improving its internal cost structure, which led to a significant reduction in operating losses last year and a return to profitability in early 2025.

“We will accelerate the growth of our high-margin businesses and continue to strengthen our financial position,” said Ahn Sung-woo, CEO of Zigbang. “We remain committed to leading the digital transformation of Korea’s real estate sector and redefining how people experience property transactions.”