Naver D2SF (D2 Startup Factory) announced on the 2nd that it has made a follow-up investment in ‘My Franchise’, which made a seed investment in 2019. My Franchise Series B investment amount was worth 9.5 billion won, and Daol Investment took the lead. My Franchise’s accumulated investment amount is approximately 13 billion won. MyFranchise developed ‘MyFranch’, an online platform that connects prospective entrepreneurs with franchise headquarters based on startup data. We collect, analyze, and provide useful data for franchise startups, such as startup costs, annual business closure rates, and commercial districts, and 1:1 startup consulting and matching services are also in progress.
Mypcha has received a high response from prospective entrepreneurs and franchise partners. Prospective entrepreneurs can prepare for starting a business in a more stable and systematic manner by checking data that was not easily accessible, and franchise headquarters can promote their brands as well as open franchise stores effectively by utilizing commercial analysis services.
In just two years since its launch, Mypcha has shown rapid growth, accumulating over 5,000 inquiries from prospective entrepreneurs and securing over 2,400 franchise partners.
Naver D2SF participated in the seed investment as the first institutional investor immediately after My Franchise was founded in 2019.
Sympathizing with the information asymmetry problem in the franchise industry that My Franchise focused on at the time, we continued to support My Franchise’s growth after the seed investment and promoted regular exchanges with Naver’s various SME platforms.
Yang Sang-hwan, leader of Naver D2SF, said, “Despite the start-up ecosystem shrinking due to COVID-19, My Franchise has continued to grow significantly by providing useful services to prospective entrepreneurs and brands.” He added, “It will grow into a platform for offline SMEs in the future.” “Of course, we expect more synergy with Naver,” he said.
Kim Jun-yong, CEO of My Franchise, said, “Using this investment as a stepping stone, we plan to strengthen our data-based recommendation service and introduce recommendations for start-up candidates and priority areas for opening stores.”
Source: Pangyo Techno Valley Official Newsroom
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