Postype, a creator-focused content publishing platform based in South Korea, has announced that it has raised $7.6 million.

The funding round was led by Sui Generis Partners with additional participation from other high-profile South Korean investors, including Shinhan Venture Investment, We Ventures, Atinum Investment, KB Investment, and Playmake Ventures, Postype said in a statement on Thursday.

According to the statement, the funds raised in this round will be used to expand Postype Partners, its own creator growth and grant program.

The financing also allows Postype to further enhance creator monetization experiences and develop new features, including selling merchandise.

According to Gyuseub Shin, Postype Chief Executive Officer, the support of the investors in this round is a validation of Postype’s vision on the creator economy and storytelling IP business.

“We are passionate about building the sustainable creator ecosystem with a strong focus on webtoons and web novels, and thrilled to have the support,

“This investment will allow us to improve creator and fan experience and strengthen our leading positions in South Korea’s creator economy market,” he said.

Founded in 2015, Postype is a platform that helps creators to monetize their creativities and connect with their most passionate fans.

The platform is a go-to destination for South Korean creators and their fans where creators can earn by their work.

Creators can make an income on Postype by publishing a paywalled content, accepting donations, and starting memberships.

The platform quickly gained popularity among creators in South Korea and has become a go-to destination for fans of webtoons, digital comics in a vertical scrolling format, and serialized fictions.

“We’re thrilled to invest in one of the largest independent digital content marketplace ecosystems in South Korea, with nearly 5 million monthly active user (MAU),

“I believe Postype has an unmatched competitive advantage over others in discovering and developing its user-generated IP,” said Hanjae Kim, Chief Executive Officer and partner, Sui Generis Partners.

Earlier this year, the startup was selected as one of the Asia-Pacific High Growth Companies by Financial Times.

According to Postype, creators on the platform make a combined total of more than 70 billion Korean Won ($54 million) to date.

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