– Global crowdfunding market size projected to reach 99 trillion won by 2032, with an average annual growth rate of 16%
– Leading domestic crowdfunding platform Wadiz has facilitated 10,000 funding projects in just six months this year, bringing its total number of projects to over 70,000.
– Expanding the funding ecosystem to enable fundraising and customer acquisition through crowdfunding, pre-orders, and online stores
As the global crowdfunding market continues to grow, the domestic crowdfunding industry is also expected to gain momentum.
WadizWadiz announced that it surpassed 70,000 cumulative projects at the end of July, with 10,000 projects launched in the first half of this year alone, indicating that demand for crowdfunding is accelerating.
It took 5 years and 7 months to reach 10,000 projects after the official launch of the funding service, but it took only 2 years and 9 months to reach 50,000 projects, and just 7 months to reach 60,000.
In particular, the number of crowdfunding campaigns, pre-orders, and store listings Wadizin the first half of this year rose by 36% year-over-year to 10,990, reaching a cumulative total of 70,000 campaigns launched in just six months. This indicates that makers from an increasingly diverse range of fields are rapidly embracing “new retail through crowdfunding.”
According to global market research firm Polaris Market Research (PMR), the global crowdfunding market is estimated to grow at a compound annual growth rate (CAGR) of 16.1%, expanding from $19.8 billion (approximately 27 trillion won) in 2023 to exceed 99 trillion won by 2032.
In Korea, Wadizhas established itself as a "pre-launch distribution channel" for testing new products and gauging consumer response.
Starting with crowdfunding services and expanding into pre-orders and e-commerce (Wadiz), Wadizsurpassed 1.2 trillion won in cumulative transaction volume in the first half of this year and reached 70,000 cumulative funding projects.
This growth was largely driven by Wadizexpansion beyond the domestic reward-based crowdfunding market into a new business model that supports the discovery, cultivation, and subsequent distribution of small brands. Additionally, the reorganization of categories—which allowed makers across various fields to raise funds and connect with customers through crowdfunding—played a significant role.
The Wadiz Store, which offers products that have successfully completed funding campaigns for purchase year-round, reached 5,000 listed products in the first half of this year, a twofold increase compared to the same period last year. This increase in listed products has led to higher transaction volumes, with store sales in the first half of this year rising 21% year-over-year.
Meanwhile, Wadizhas revamped its “Create a Project” page to make it easier for creators to launch their initiatives. The redesign reflects the platform’s core mission, which enables users to use Wadizfor launching new products, testing market response, recruiting members, promoting exhibitions, securing operational funding, addressing social issues, and raising funds for awareness campaigns.
Wadiz CEO Shin Hye-sung said,Wadizhas expanded its crowdfunding ecosystem to enable everyone from individuals to corporations to achieve a variety of goals, including raising funds, launching new products, recruiting participants, promoting their projects, and securing sponsorships.” He added, “Moving forward, we will continue to develop Wadizinto a service that allows makers to try new things and offers supporters the joy of participatory and exploratory consumption.”
