Wadiz Surpasses 70,000 Cumulative Funded Projects, 'Accelerating' Domestic and Global Crowdfunding Ecosystem Expansion

Wadiz Surpasses 70,000 Cumulative Funded Projects, 'Accelerating' Domestic and Global Crowdfunding Ecosystem Expansion

- Global Crowdfunding Market Size to Reach 99 Trillion Won by 2032, with Projected Annual Growth of 16%
- Wadiz, Korea's Leading Crowdfunding Platform, Brokered 10,000 Funded Projects in Just 6 Months This Year, Surpassing 70,000 Cumulative Projects
- Expanded Crowdfunding Ecosystem Enables Capital Raising and Customer Acquisition Through Funding, Pre-order, and Store Services

As the global crowdfunding market continues to grow, the domestic funding industry is also expected to accelerate its growth.

 
Wadiz surpassed 70,000 cumulative projects at the end of July, with 10,000 projects launched in just the first half of this year, indicating accelerating demand for capital raising through crowdfunding.

After the official launch of the funding service, it took 5 years and 7 months to reach 10,000 projects, but only 2 years and 9 months to reach 50,000 projects, and just 7 months to reach 60,000 projects. In particular, Wadiz's cumulative funding, pre-order, and store listings in the first half of this year increased 36% year-over-year to 10,990, reaching 70,000 cumulative funded projects in just half a year. More makers from diverse fields are rapidly entering ‘new distribution through crowdfunding.’

According to Polaris Market Research (PMR), a global market research firm, the worldwide crowdfunding market size is estimated to grow at an annual rate of 16.1% from $19.8 billion (approximately 27 trillion won) in 2023 to exceed 99 trillion won by 2032.

In Korea, Wadiz has established itself as a ‘zero-stage distribution channel’ for testing new products and gauging consumer response. Beginning with crowdfunding services and expanding to pre-order purchases and commerce (Wadiz Store), Wadiz surpassed 1.2 trillion won in cumulative transaction volume in the first half of this year and reached 70,000 cumulative funded projects.  

This growth has been driven by Wadiz's expansion beyond domestic reward-based crowdfunding into a new business model that supports the discovery and nurturing of small brands and facilitates subsequent distribution. Additionally, category reorganization has played a significant role in allowing makers from diverse fields to access capital raising and meet customers through crowdfunding.

Wadiz Store, which continuously sells successfully funded products, reached 5,000 store listings in the first half of this year, doubling compared to the same period last year. The increase in listed products has led to higher transaction volumes, with store sales in the first half of this year increasing 21% compared to the same period last year.

Meanwhile, Wadiz also redesigned the ‘Project Creation Page’ to make it easier for makers to challenge themselves. The redesign reflects Wadiz's identity as a service that enables △launching new products △testing market response △recruiting membership members △exhibition promotion △securing operations △addressing social issues △fundraising for awareness activities.

Wadiz CEO Shin Hae-sung stated, “Wadiz has expanded its crowdfunding ecosystem to enable individuals and companies alike to achieve various goals including capital raising, new product launches, recruitment, promotion, and sponsorship through crowdfunding,” and added, “Going forward, we will continue to develop Wadiz as a service that allows makers to make new attempts and supporters to enjoy the pleasures of participatory and exploratory consumption.”