Wholesum Brands KRW20 Billion Venture Loan Facility Announcement

Widus Partners (“Widus”), a cross-border strategic advisory and investment firm, is pleased to announce that it has completed a KRW20 Billion venture loan facility with Wholesum Brands (“Wholesum”).

Established in 2021, Wholesum is an ‘online brand aggregator’ that acquires and nurtures promising small and medium-sized Korean e-commerce companies that lack capital and marketing capabilities but want to grow their business and brand presence to break into the international market. So far, Wholesum has acquired eight brands in categories such as Lifestyle, Healthcare, Pets, and Children’s products, including products such as hangover reliever ‘Aldicom’ and mouthwash brand ‘Cooltia.’ Wholesum also recently secured significant Series A equity investment from global investors such as Nordstar and Kingsway.

Widus’ decision to partner with Wholesum is driven by the rapid growth in the global aggregator market. Steve Byun, Managing Partner of Widus, said, “In an environment where investment sentiment for startups is contracting, alternative financial instruments such as venture debt are becoming increasingly important. We are pleased to launch the first venture debt facility under the new Korean PEF framework with Wholesum, who we believe will further extend their lead in the market.”

Widus says they are also working closely with several domestic institutions to create additional new venture loan funds. These new funds will support various types of venture companies with high growth potential, but find it challenging to raise funds through traditional creditors.